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ePrime Congratulates Bank of China Hong Kong Branch’s Successful Issuance of Two-Year Offshore RMB Sustainability Bonds

29 March 2023

ePrime supported Bank of China Hong Kong Branch on its two-year offshore RMB 1 billion sustainability bond issuance on 20 March, in which end-to-end support on syndication, bookbuilding, pricing and allocation had been provided by ePrime Issuance Service. The transaction was led by a syndicate of 14 Joint Bookrunners including Bank of China(1), Agricultural Bank of China(2), Bank of Communications, China Construction Bank (Asia), CMB Wing Lung Bank Limited, Crédit Agricole CIB, DBS Bank Ltd., HSBC, ICBC (Asia), Mizuho and Standard Chartered Bank.

The proceeds of the two-year sustainability bonds will be used to finance and/or refinance eligible sustainability projects as defined in Bank of China Limited’s sustainability series bonds management statement located in the Hainan Free Trade Port. It was welcomed by overseas investors and issued at a 2.93% yield, 47 bps lower than the initial price guidance of 3.4%. Bank of China has long been involved in Bond Connect’s initiatives; we are honored to have ePrime facilitate yet another one of its successful offshore RMB bond issuances.

Bank of China commented, "This is a meaningful issuance which drives the implementation of a dual circulation development pattern and the opening up of China's capital markets. Built upon our bank's diverse range of financing channels, it strengthens Bond Connect's primary market services and contributes to the Hainan Free Trade Port's quality development by supporting its real economic growth."

Mr. Tony Wang, General Manager of BCCL, commented, “As a long-term strategic partner of Bond Connect, Bank of China Hong Kong Branch was among the first onboarded ePrime underwriters and Northbound investors. Their active involvement and feedback have played a crucial role in improving ePrime’s quality of service. Looking ahead, we hope to maintain this close relationship while contributing to the development of the onshore primary market together.”

In collaboration with CFETS and launched in October 2020, ePrime is an electronic solution for the primary bond market that spans across issuers, underwriters and investors specialized in the China cross-border workflow. It has two components to cater for issuance and crossborder subscription applications: ePrime Issuance Service and ePrime Northbound Primary Service.

ePrime Issuance Service offers a platform for issuing, primary bookbuilding, pricing and allocation for securities including US dollar-denominated bonds, Renminbi bonds, Hong Kong dollar bonds and other currencies. It has successfully supported various issuances from policy banks, commercial banks and corporates managed across 30 underwriters onboarded.

Please contact us at / (852) 2327 0398 for enquiries. 

1. Bank of China includes Bank of China Limited, a joint stock company incorporated in the People’s Republic of China with limited liability, Bank of China (Hong Kong) Limited and BOCI Asia Limited.
2. Agricultural Bank of China includes ABCI Capital Limited and Agricultural Bank of China Limited Hong Kong Branch, incorporated in the People's Republic of China with limited liability.
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