Published on 10/12/2023 in the Prospect News Emerging Markets Daily and Prospect News Green Finance Daily.
New Issue: Bank of China prices €300 million 4% three-year green notes
Chicago, Oct. 12 – Bank of China Ltd. Luxembourg Branch priced €300 million of 4% three-year senior green notes (A1/A/A) on Thursday, according to information from a market source.
The notes priced at 99.654 to yield 4 1/8%, or at mid-swaps plus 60 basis points.
Initial guidance had the notes coming in the mid-swaps plus 80 bps area.
The joint lead managers and joint bookrunners were Bank of China, Agricultural Bank of China, Bank of Communications, Barclays, BNP Paribas, China Construction Bank, China Minsheng Banking Corp., Ltd., China Securities International, Citic Securities, CMB Wing Lung Bank Ltd., CNCB Capital, Credit Agricole CIB, HSBC, ICBC (Europe) SA, OCBC and UBS AG.
Proceeds will be used to finance or refinance eligible transition projects.
The notes will be listed in Hong Kong and Luxembourg.
The issuer provides corporate and commercial banking services.
| Issuer: | Bank of China Ltd. Luxembourg Branch
|
| Amount: | €300 million
|
| Issue: | Senior green notes
|
| Maturity: | Oct. 19, 2026
|
| Bookrunners: | Bank of China, Agricultural Bank of China, Bank of Communications, Barclays, BNP Paribas, China Construction Bank, China Minsheng Banking Corp., Ltd., China Securities International, Citic Securities, CMB Wing Lung Bank Ltd., CNCB Capital, Credit Agricole CIB, HSBC, ICBC (Europe) SA, OCBC and UBS AG
|
| Joint structuring advisers: | Bank of China, Credit Agricole and BNP Paribas
|
| External verifier: | Ernst & Young Hua Ming LLP
|
| Coupon: | 4%
|
| Price: | 99.654
|
| Yield: | 4 1/8%
|
| Spread: | Mid-swaps plus 60 bps, or Bunds plus 125.5 bps
|
| Trade date: | Oct. 12
|
| Settlement date: | Oct. 19
|
| Ratings: | Moody’s: A1
|
| S&P: A
|
| Fitch: A
|
| Distribution: | Regulation S
|
| Price talk: | Mid-swaps plus 80 bps area
|
| ISIN: | XS2702157855
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
