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The Bank of China Dubai Branch, rated A1 (Negative) by Moody’s and A (Stable) by S&P and Fitch, has raised $500 million from a three-year bond, priced at a compounded SOFR +43 bps, from an initial price guidance of SOFR +100bps area.
The re-offer price is set at par, with the expected rating for the Reg S senior unsecured floating rate notes in line with the issuer.
The Floating Rate Notes will be a drawdown under Bank of China Limited’s $40 billion MTN Programme, with a settlement date of November 24, 2025.
Bank of China, ABC International, Bank of Communications, China Citic Bank, China Construction Bank, China Securities International, Citigroup, China Merchants Bank, Credit Agricole, Emirates NBD Capital, Guotai Junan International, Huatai International, Hua Xia Bank Hong Kong branch, ICBC, Mizuho and Societe Generale are joint global coordinators, lead managers and bookrunners on the offering.
The bond will be listed on the Hong Kong Stock Exchange and NASDAQ Dubai, with proceeds to be used for general corporate purposes.
(Writing by Bindu Rai, editing by Daniel Luiz)
