Bank of China dual-currency (HK$4 billion 1.95% and MUP1 billion 1.90%) senior SMEs social bond issue

Overview:

• Bank of China's Macau branch has issued a dual-currency senior small and medium enterprises (SMEs) social bonds issuance.
• The COVID-19 themed impact alleviation issuance comprises of HK$4 billion 1.95% bonds due 2022 and a MUP1 billion 1.90% bonds due 2022 issued under Bank of China’s $40 billion MTN programme aligned to the Social Bond Principles 2018 published by the International Capital Market Association.
• Proceeds of the bonds will be used to support SMEs in Macau to aid access to financial resources and reduce financing costs in response to the recent outbreak of COVID-19.
• This is the first social bonds issuance from a Chinese issuer in the international capital markets.

Adam Majeed - IFLR1000