Bank of China Macau Branch first Chinese issuer to issue social bonds in the offshore market

This landmark transaction comprises of a HKD4 billion 1.95% bonds due 2022 and a MOP1 billion 1.90% bonds due 2022. Both notes are issued under Bank of China Limited’s USD40 billion MTN programme and are aligned with 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.

Partner Agnes Tsang and Of Counsel Jaclyn Yeap led the transaction advising the joint lead managers and joint bookrunners and were supported by a team including Ming Wei Loo, Angela Liu, Evelyn Zhu, Iris Zhou and Dilys Hung.

Allen & Overy advised the underwriters’ on Bank of China Macau Branch’s first SOFR-based bond in Asia and first green bonds in Macau last October.

Disclaimer: 

^{The information contained herein is restricted and is not for publication, distribution or release in or into the United States of America, Australia, Canada, Japan or South Africa. This announcement is not an offer of securities for sale or a solicitation of an offer to purchase securities in the United States or any other jurisdiction. The securities referred to herein (the “Securities”) have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not, subject to certain exceptions, be offered or sold in the United States or to or for the account or benefit of a person located in the United States}