Bank of China Hong Kong is the local unit of the mainland Chinese lender Bank of China, which has announced the possibility to issue up to USD 15 billion worth of bonds. These will be available to professional and institutional investors over the next 12 months as part of a note issuing program.
The blue-chip bank said the bonds sold under the program may be denominated in any currency, and noted it has hired BOC International, Citigroup, and Deutsche Bank as joint arrangers for the bond issues.
“BOCHK considers that the (program) as a platform will enable it to achieve greater flexibility and diversity in asset and liability management from a medium to long-term perspective,” the bank said in a statement to the Hong Kong stock exchange.
It said it intends to use the net proceeds from each issue of the bonds for general corporate purposes.
Hong Kong, September 3, 2011, (Dow Jones)
