Bank of China Ltd. Hong Kong Branch's Proposed MTN Drawdowns Assigned 'A' Rating

HONG KONG (S&P Global Ratings) Jan. 7, 2021--S&P Global Ratings today assigned its 'A' long-term issue rating to two proposed senior unsecured fixed-rate note drawdowns from Bank of China Ltd.'s US$40 billion medium-term note (MTN) program by its Hong Kong branch. The issue rating is subject to our review of the final issuance documentation. The notes consist of a U.S. dollar tranche and a Chinese renminbi tranche, and are redeemable at par on maturity. They will constitute direct, general, unsubordinated, unconditional, and unsecured obligations of the issuer, which will at all times rank equally with its other present and future senior unsecured obligations, save for those preferred by provisions of law. The issuer intends to use the proceeds from these

...January 7, 2021 HONG KONG (S&P Global Ratings) Jan. 7, 2021--S&P Global Ratings today assigned its 'A' long-term issue rating to two proposed senior unsecured fixed-rate note drawdowns from Bank of China Ltd.'s US$40 billion medium-term note (MTN) program by its Hong Kong branch. The issue rating is subject to our review of the final issuance documentation. The notes consist of a U.S. dollar tranche and a Chinese renminbi tranche, and are redeemable at par on maturity. They will constitute direct, general, unsubordinated, unconditional, and unsecured obligations of the issuer, which will at all times rank equally with its other present and future senior unsecured obligations, save for those preferred by provisions of law. The issuer intends to use the proceeds from these notes ("transition bonds") to fund eligible climate transition projects as set out in the Bank of China Limited Transition Bonds Management Statement. The bank will perform climate transition finance-related disclosures...

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