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Bank of China (BoC) is planning to raise up to RMB 150bn ($21bn) via loss-absorbing bonds before 2025, a deadline to meet global capital requirements. As part of this, it plans to tap both, local and offshore bond markets to sell TLAC bonds. BoC is among the top five Chinese banks that are considered global systemically important banks by Chinese regulators and the Switzerland-based Financial Stability Board (FSB). Alongside BoC, the other four other lenders are also expected to unveil loss-absorbing bond issuance plans soon.
BoC’s dollar bonds are trading steady with its Hong Kong branch’s notes yielding 4.6-5%.
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