Bank of China Dubai prices CNH 2bln two-year Yulan bond at 1.6%

By Staff Writer

Bank of China (BOC Dubai) has priced a 2 billion yuan ($280 million) two-year fixed-rate Yulan bond at a final yield of 1.6%, down from an initial 2.1%. The issuance size is capped at CNH 2 billion.

A syndicate of Chinese and international banks is managing the sale, including Bank of China, Agricultural Bank of China, Bank of Communications, China Construction Bank, China CITIC Bank, China International Capital Corporation, HSBC, ICBC, Mashreq, Mizuho, Societe Generale and Standard Chartered Bank, among others. HSBC is acting as bookrunner and dealer.

The notes are being marketed under Regulation S and will mature in two years. Proceeds from the issuance will be used for general corporate purposes.

The bonds will be listed on both the Hong Kong Stock Exchange and Nasdaq Dubai. Settlement is scheduled for October 23, 2026.

The senior unsecured notes will be issued under BOC Limited's $40 billion medium-term note programme and are expected to carry ratings of A1/A/A , in line with the issuer's ratings.

(Writing by Ahmad Mousa; editing by Seban Scaria)

Ahmad.mousa@lseg.com