DUBAI, Dec. 4 (Xinhua) -- Bank of China's Dubai Branch announced on Thursday its recent issuance and listing of a three-year 500 million U.S. dollar secured overnight financing rate (SOFR) bond.
The issuance sets a record for the narrowest issuance spread of U.S. dollar bond with a three-year maturity among Chinese banks, according to Bank of China's Dubai Branch.
Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market, welcomed the bond listing, saying Nasdaq Dubai has built a "longstanding and trusted" relationship with Bank of China.
"Dubai continues to serve as a strategic bridge between China and global capital markets, offering issuers a transparent, internationally aligned platform and access to a deep and geographically diverse investor base. Listings of this calibre highlight the strength and resilience of our marketplace," he added.
The proceeds from the bond will be fully used to support cooperation in infrastructure, energy and other sectors in the United Arab Emirates, according to Bank of China's Dubai Branch.
The institution said it will continue to build on its global network and comprehensive financial services to strengthen cooperation with partners in the Middle East, enhance China-Arab financial connectivity and contribute to the high-quality development of bilateral economic and trade ties.
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