In a move that sent a neat ripple through regional debt markets, the Dubai branch of Bank of China has rolled out a three-year, $500 million floating-rate note—tightening pricing far beyond the early whispers. What began as guidance around SOFR plus 100 basis points was ultimately reeled in to a lean SOFR +43 bps, landing right at par.
The notes, aligned with the bank’s existing credit grades from major rating agencies, slide neatly into the institution’s sprawling $40 billion medium-term note programme. Settlement is slated for late November, keeping the momentum brisk.
The syndicate behind the issuance reads like a global tour of capital-market heavyweights—spanning Chinese giants, global investment banks, and regional powerhouses—all joining forces as coordinators, managers, and bookrunners.
Once the paperwork settles, the bond will take up residence on both the Hong Kong Stock Exchange and NASDAQ Dubai. Proceeds? Earmarked for broad corporate use, giving the bank added room to manoeuvre amid shifting financial currents.
