Bank of China lists $300 mln bonds on Nasdaq Dubai

Security guard wearing a mask following the coronavirus disease (COVID-19) outbreak is seen near the Bank of China in Beijing
A security guard wearing a mask following the coronavirus disease (COVID-19) outbreak is seen near the Bank of China in Beijing, China, October 19, 2020. REUTERS/Tingshu Wang/File Photo

DUBAI, Dec 13 (Reuters) - Bank of China (601988.SS), one of China's top four state-owned banks, has listed $300 million bonds on Nasdaq Dubai, the United Arab Emirates' state news agency WAM said on Tuesday.

The bank issued the bonds, maturing in 2025, through its Dubai branch at a yield of 4.84%.

The bonds, which have a coupon of 4.75%, priced on Nov. 28, according to Refinitiv. They began trading on Dec. 6.

Bank of China in 2015 listed 2 billion yuan ($286.53 million) of bonds, issued by its Abu Dhabi branch, on Nasdaq Dubai.

The listing "reflects the vital role played by Nasdaq Dubai in strengthening the links between the financial markets in Dubai and China," WAM said.

The bonds are rated A by Fitch, according to Refinitiv.

Other banks on the deal included BNP Paribas, Credit Agricole, Mizuho and MUFG.

($1 = 6.9800 Chinese yuan renminbi)

Reporting by Enas Elashray in Cairo; Writing by Yousef Saba in Dubai Editing by Tomasz Janowski

Our Standards: The Thomson Reuters Trust Principles.

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