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Bank of China raises 4B yuan via dim sum bonds

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Bank of China raises 4B yuan via dim sum bonds

Bank of China Ltd. raised 4 billion yuan via an offering dim sum bonds, the Financial Times reported Feb. 27.

The offering was comprised of 2.5 billion yuan of three-year notes yielding 4.65% and 1.5 billion yuan of one-year notes yielding 4.45%. The bonds will be issued through the bank's Macau branch.

The proceeds from the issuance will be used for general funding purposes.

The deal is Bank of China's largest offering of dim sum bonds — yuan bonds sold offshore — in two and a half years, the publication said.

Bank of China, HSBC, DBS Bank and KGI Asia acted as joint book runners.

As of Feb. 27, US$1 is equivalent to 6.32 Chinese yuan.