As the sole global coordinator, joint lead underwriter and book runner for China Orient Asset Management Corporation (COAMC), BOC International lately backed COAMC in the first overseas issue of 3-year RMB-denominated premium bonds. With 100% issue price and a yield of 4.10%, the bonds became the first investment-grade overseas RMB bonds issued by COAMC.
It was not only the largest RMB bond issue by COAMC in terms of volume, but also one of the biggest single-term bonds issue in the RMB bond market. The issue was well received among funds, commercial banks, private banks and asset management companies, with the final amount issued hitting RMB2.5 billion and over RMB9.2 billion on the books.
COAMC is a leading asset management company in China. So far, it is the only Chinese asset management company that has issued dollar- and RMB-denominated premium bonds in overseas markets. BOCI served as the global coordinator, lead underwriter and book runner for COAMC in the overseas dollar bonds issue in September 2013.
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