New Issue: Bank of China branch prices RMB 2 billion 2.85% notes due 2025 at par

By William Gullotti

Buffalo, N.Y., May 31 – Bank of China Ltd., Macao Branch priced RMB 2 billion of 2.85% notes due 2025 (A1/A/A) at par, according to a listing notice with an appended offering circular on Wednesday.

The Regulation S notes are issued under the parent bank’s $40 billion medium term note program.

Bank of China Ltd., Bank of China (Hong Kong) Ltd., BOCI Asia Ltd., Agricultural Bank of China Ltd., Hong Kong Branch, Bank of Communications Co., Ltd., Hong Kong Branch, BNP Paribas, CCB International Capital Ltd., CEB International Capital Corp., Ltd., China Citic Bank International Ltd., China Construction Bank (Asia) Corp., Ltd., China Construction Bank Corp., Macau Branch, China Construction Bank Europe) S.A., China Everbright Bank Co., Ltd., Hong Kong Branch, China International Capital Corp., Hong Kong Securities Ltd., China Minsheng Banking Corp., Ltd., Hong Kong Branch, China Securities (International) Corporate Finance Co., Ltd., CLSA Ltd., CMBC Securities Co., Ltd., CMB Wing Lung Bank Ltd., CNCB (Hong Kong) Capital Ltd., Credit Agricole CIB, HSBC Ltd., Industrial and Commercial Bank of China (Asia) Ltd., Industrial and Commercial Bank of China Ltd., Dubai (DIFC) Branch, Mizuho Securities Asia Ltd., Nanyang Commercial Bank, Ltd. and Standard Chartered Bank are the managers for the syndicated offering.

Proceeds will be used for general corporate purposes.

Listing for the notes is expected on the Hong Kong Exchange effective May 31.

The bank provides banking services to individuals, enterprises and other clients.

Issuer:	Bank of China Ltd., Macao Branch
Amount:	RMB 2 billion
Issue:	Notes, series 138
Maturity:	May 30, 2025
Managers:	Bank of China Ltd., Bank of China (Hong Kong) Ltd., BOCI Asia Ltd., Agricultural Bank of China Ltd., Hong Kong Branch, Bank of Communications Co., Ltd., Hong Kong Branch, BNP Paribas, CCB International Capital Ltd., CEB International Capital Corp., Ltd., China Citic Bank International Ltd., China Construction Bank (Asia) Corp., Ltd., China Construction Bank Corp., Macau Branch, China Construction Bank Europe) S.A., China Everbright Bank Co., Ltd., Hong Kong Branch, China International Capital Corp., Hong Kong Securities Ltd., China Minsheng Banking Corp., Ltd., Hong Kong Branch, China Securities (International) Corporate Finance Co., Ltd., CLSA Ltd., CMBC Securities Co., Ltd., CMB Wing Lung Bank Ltd., CNCB (Hong Kong) Capital Ltd., Credit Agricole CIB, HSBC Ltd., Industrial and Commercial Bank of China (Asia) Ltd., Industrial and Commercial Bank of China Ltd., Dubai (DIFC) Branch, Mizuho Securities Asia Ltd., Nanyang Commercial Bank, Ltd. and Standard Chartered Bank
Trustee:	HSBC Ltd. (as fiscal agent and paying agent, with Shanghai Clearing House acting as registrar)
Counsel to issuer:	Linklaters (England), JunZeJun Law Offices (China)
Counsel to underwriters:	Allen & Overy (England), Jingtian & Gongcheng (China)
Coupon:	2.85%
Price:	Par
Yield:	2.85%
Call:	For taxation reasons at par
Pricing date:	May 22
Issue date:	May 30
Listing date:	May 31
Ratings:	Moody’s: A1
	S&P: A
	Fitch: A
Distribution:	Regulation S
ISIN:	CND10006G534

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