Bank of China Ltd. Taipei Branch's Proposed MTN Drawdowns Assigned 'A' Ratings

HONG KONG (S&P Global Ratings) April 10, 2018--S&P Global Ratings today assigned its 'A' long-term issue ratings to the proposed drawdowns of senior unsecured notes by Bank of China Ltd. (Taipei Branch). The notes will be denominated in Chinese yuan and issued in two traches--one with a three-year tenor, and the other five-year. The notes are a part of Bank of China Ltd.'s (BOC) US$40 billion medium-term note (MTN) program. The issue ratings are subject to our review of the final issuance documentation. The ratings on the notes reflect the structure of the proposed issuance and are in line with our issuer credit rating on BOC (A/Stable/A-1). The notes will constitute direct, general, unsubordinated, unconditional, and unsecured obligations of BOC

...HONG KONG (S&P Global Ratings) April 10, 2018--S&P Global Ratings today assigned its 'A' long-term issue ratings to the proposed drawdowns of senior unsecured notes by Bank of China Ltd. (Taipei Branch). The notes will be denominated in Chinese yuan and issued in two traches--one with a three-year tenor, and the other five-year. The notes are a part of Bank of China Ltd.'s (BOC) US$40 billion medium-term note (MTN) program. The issue ratings are subject to our review of the final issuance documentation. The ratings on the notes reflect the structure of the proposed issuance and are in line with our issuer credit rating on BOC (A/Stable/A-1). The notes will constitute direct, general, unsubordinated, unconditional, and unsecured obligations of BOC and will at all times rank equally among themselves. BOC is headquartered in Beijing. It reported assets of Chinese yuan 19.5 trillion as of Dec. 31, 2017. RELATED CRITERIA + Criteria - Financial Institutions - General: Risk-Adjusted Capital Framework...

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