-
Bank of China, one of China's top four state-owned banks, has listed $300 million in bonds on Nasdaq Dubai. The bank issued the bonds, maturing in 2025, through its Dubai branch at a yield of 4.84%. The bonds, which have a coupon of 4.75%, were priced on Nov. 28, according to Refinitiv.
-
This is the first of its kind listing from BOC’s Dubai branch, as the 2015 listing was issued by BOC’s Abu Dhabi branch. The Fitch ‘A’ rating bonds are part of the bank’s $40 billion bond issuance program. The bank shall use the proceeds for general corporate purposes.
-
Pan Xinyuan, General Manager and Regional Head of the Bank of China, stated that "All the funds from this bond issuance will be used to boost economic growth in the UAE and other Middle East countries."