Moody’s rates Bank of China Paris green bonds A1

Moody's Investors Service said it assigned an A1 rating to the proposed three-year Euro-denominated floating-rate, three-year yuan-denominated fixed-rate and five-year dollar-denominated fixed- or floating-rate senior unsecured green bonds to be issued by Bank of China Ltd., Paris Branch.

The outlook is stable.

The notes will be issued under Bank of China’s $30 billion medium-term note program.

Proceeds will be used to fund eligible green projects in alignment with the Green Bond Principles.

Moody’s said the A1 rating and stable outlook for the notes are in line with Bank of China’s long-term deposit rating and outlook, and reflect the structure of the proposed issuance.

The senior unsecured notes will constitute a direct, general, unsubordinated, unconditional, and unsecured obligation of the issuer. The notes will be redeemable at principal on maturity.

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