Bank of China is marketing US dollar bonds that comply with Basel III banking regulations directly to US investors.
The bank is seeking to raise around $3bn from the bond sale. It is also offering the 10-year subordinated 144A notes to yield 300 basis points over comparable US Treasuries.
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The 10-year bonds will also comply with the standards required for European and Asian investors.
In May last year, the bank’s board approved the issuance of CNY60bn of subordinated notes.
In August this year, Bank of China sold CNY30bn of 10-year subordinated notes in the local market, while the remaining CNY30bn will be issued offshore in December 2015.
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