Islamabad Telegraph Report
Beijing: BOCI completed the multi-year senior bonds issuance worth US$8 billion for Saudi Aramco as a joint book-runner on November 17 (EST), according to the news release of BOCI.
The second overseas bond issuance by the oil giant had been widely sought after by international investors and more than 600 of them involved in it. The peak value of the book exceeded US$50 billion.
As a leading oil producer worldwide, Saudi Aramco boasts the world’s largest on- and off-shore oilfields, with its business covering oil exploration, development, production, refining, shipment, and marketing across the globe.
This marks the first time BOCI has issued bonds overseas for Saudi Aramco as one of the joint book-runners since December 2019 when it assisted the company in going public as the sole Chinese-funded investment bank. In both projects, BOCI has brought to Saudi Aramco high-quality orders supported by China and other Asian investors, and this year BOCI enabled a notable increase in the allocation proportion of Asian investors, compared with that in its first bond issuance in 2019.
BOCI, which is a wholly-owned subsidiary of Bank of China, offers a full range of investment banking products and services in both mainland China and overseas capital markets, including corporate financing, mergers and acquisitions, financial consulting, securities sales, fixed income, private banking, asset management, direct investment, stock derivatives, leveraged and structured financing and global commodities. BOCI has long been a leading player in the IPO, stock trading, bond issuance, mandatory provident fund in Hongkong as well as the capital markets in Mainland China.