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BOC Exclusively Underwrites the First RMB Debt Financing Instrument for Overseas Non-financial Enterprises


 

On March 14, the RMB financing instrument for Daimler AG underwritten exclusively by Bank of China was successfully issued. It became the first RMB bond for overseas non-financial enterprises issued on the inter-bank bond market, which indicates the domestic financing channel for foreign non-financial enterprises has been officially established on the Chinese bond market.

The initial private offering of oriented RMB bond for Daimler AG amounts to RMB 500 million for a term of 1 year. The subject credit of the issuer is rated as AAA both in local currency and foreign currency and the rating is expected to be stable. On December 26, 2013, National Association of Financial Market Institutional Investors (NAFMII) accepted the registration of RMB 5 billion of oriented debt financing instrument of Daimler AG. As the exclusive underwriter, by adequately studying and making reference to the regulations and rules and commercial practices of the international developed market and keeping close communication with the issuer and the regulatory authority, BOC completed all the links from the project startup to the registration and placement, which provided strong assurance for the successful registration and placement of the bond and created a new case for Chinese-funded banks to support overseas enterprises to “come into China”.

By following up closely with the market development, giving play to its advantages in internationalization and diversification and actively participating in the innovation and development of the inter-bank bond market, Bank of China has acted as the main underwriter in various cross-border direct financing innovation projects, including the first USD medium-term note on Chinese inter-bank bond market, the first RMB bond for the domestic subsidiary of the foreign-funded bank, the first Hong Kong “Dim Sum Bond” for domestic non-financial institutions and the first overseas market USD bond for domestic securities companies and having also underwritten the first deal of London “Dim Sum Bond” for financial institutions.

 

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