The Panamanian branch of Bank of China sold $300 million worth of two-year, US dollar-denominated sustainable bonds in the international market on Tuesday, IFR News reported.
Bank of China priced the 2026 notes at par to yield a spread of 52 basis points over SOFR mid-swaps after opening the deal at around 95 basis points, according to the newswire.
Investors placed as much as $690 million in orders, the report said.
The lender appointed itself along with eight other Chinese banks — including Agricultural Bank of China (AgBank), China Construction Bank (CCB) and Bank of Communications (BankComm) — and seven international banks as joint bookrunners on the Reg S offering, IFR wrote.
The international banks were Barclays, Mizuho, Crédit Agricole, JPMorgan, UBS, Standard Chartered and DBS Bank, the report said, adding that Bank of China will use the sale proceeds to finance green and social projects.