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BOC makes ‘big bang’ move with maiden transition bond
Bank of China sold its debut transition bond on Thursday, giving the still nascent market a big boost by opting for a dual currency dollar and renminbi deal.
The three year dollar portion raised $500m, while the two year dim sum bond was worth Rmb1.8bn ($278m). The proceeds of the Reg S trade, sold through BOC's Hong Kong branch, have been designated to finance or refinance transition projects.
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