The Singapore branch of Bank of China has issued international bonds for 600 million US dollars, marking the second time that the bank has released bonds in order to support the construction of the Belt and Road Initiative.
Sold at a price of 100 percent, the bonds are set to mature in 2020.
A Bank of China branch in Beijing, China. /CFP Photo
Bank of China said that it vigorously implements the Belt and Road Initiative, and provides financial support to its projects.
"The successful issuance of the bonds this time will inject vitality into the Singaporean capital market, and returns are made back to local investors with outstanding investment products. The fund raised will support local enterprises who participate Belt and Road related projects," said an online statement on the Bank of China website.
VCG Photo
The first time Bank of China issued bonds to support the Belt and Road Initiative was in 2015, when it summoned multiple international branches to issue bonds worth four billion US dollars.
The Bank of China Singapore Branch was founded in 1936 and is based in Singapore. It operates as a subsidiary of Bank of China, and was Singapore's first bank to provide financial products in renminbi.
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