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2019-04-24 11:56:51

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  来源:Business Times  By Charleston Lim  

  时间:2019-04-16

  As an added funding source for China‘s massive infrastructure undertaking, the Bank of China has now issued new Belt and Road Initiative multi-currency bonds for investors and the general public. The bonds, which are estimated to be worth more than US$3.8 billion, will be used to raise money for medium and long-term projects under China’s infrastructure initiative.

  The new bonds will be issued in five different currencies, namely in US dollars, euro, Hong Kong dollars, Macau Patacas, and in Chinese Yuans. Those who are interested in buying the new bonds can get them through the Bank of China‘s different branches located in Frankfurt, Sydney, Hong Kong, Luxembourg, and Macau.

  The latest announcement is the sixth time the Bank of China has issued bonds squarely set on funding China‘s Belt and Road initiative. Since 2015, these types of bonds have managed to raise more than US$14.6 billion. In order to keep track of the bonds, the Bank of China will be listing it on the Hong Kong Stock Exchange and Clearing LTD markets. Other bond types connected to the same initiative will also be listed under the China-Europe International Exchange, the Luxembourg Stock Exchange, and the Frankfurt Stock Exchange.

  According to the Bank of China‘s treasury department general manager, Liu Xinqun, Belt and Road-themed bonds have become quite popular amongst its foreign investors. European investors in particular apparently have an appetite for these kinds of instruments given their previous performance. Liu revealed that 83 percent of the investors for its most recent euro-denominated bonds were European investors.

  As part of the latest issuance, the bank‘s Luxembourg branch has issued a three-year floating rate bond, estimated to be worth around US$500 million. The bonds have reportedly been well received with an oversubscription rate of 4.6 times.  In its latest round, the bank is aiming to provide a deeper understanding of the Belt and Road Initiative to investors, especially to those who are in the path of the so-called 21st Century Maritime Silk Road.

  As it stands, the bank has funded over 600 major Belt and Road projects with loans exceeding US$130 billion. Ongoing projects under the initiative are estimated to require total investments of more than US$455 billion. The funding involves a number of large overseas institutions in 24 different countries around the world. To further bolster its funding efforts, the Bank of China has doubled up its cooperation with foreign governments and financial institutions through seminars that give an in-depth look into the initiative and its financial and economic benefits.

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