Fitch Assigns Final 'A' Ratings to Bank of China's Green Bonds
OREANDA-NEWS. Fitch Ratings has assigned Long-Term Ratings of 'A' to the long-term senior unsecured notes issued by Bank of China Ltd. (BOC) Luxembourg Branch and New York Branch under BOC's medium-term note (MTN) programme. The rated notes include:
Issued by Luxembourg branch
- EUR500m 0.75% notes due 2021
- USD750m floating rate notes due 2019
- USD500m 1.875% notes due 2019
- USD1bn 2.25% notes due 2021
Issued by New York Branch
- CNY1.5bn 3.60% notes due 2018
The notes issued by Luxembourg Branch will be listed on the Luxembourg Stock Exchange while the notes issued by New York Branch will be listed on the Hong Kong Stock Exchange. The proceeds will be used solely to fund BOC's new and existing projects and support businesses with environmental benefits that are aligned with the Green Bond Principles issued by the International Capital Market Association.
The notes will be issued under BOC's USD20bn MTN programme. The final ratings are in line with the expected rating assigned on 4 July 2016 and follow the receipt of documents conforming to information previously received.
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