Bank of China raises global profile with $3.8b bond

Bank of China BOC is expanding its profile in Europe and Australia with bond offers in Frankfurt, Luxembourg and Sydney, as well as Hong Kong and Macau. The state-owned bank has sold $3.78 billion in eight tranches of Reg S paper in multiple currencies.  

The $3.78 billion of senior unsecured notes will be drawn from BOC’s $40 billion 12-month medium term note programme, which the Hong Kong and Shanghai-listed lender announced at the start of the month.

The size of this year’s programme has increased to $40 billion, equivalent to 1.3% of BOC’s total liabilities plus equity, from $30 billion last year,...