On November 6, according to the British "financial times" news, the Bank of China will become the first Bank in mainland China that issues dollar bonds directly to the American investors. The bank has begun to promote its first amount of bonds which meeting the requirements of Basel III to the global fund managers.
In this issue Bank of China would finance about $3 billion and will be in line with the regulatory requirements for U.S. investors, namely 144 a rule. This bonds may be rated as "BBB +" class.
This year, Chinese Banks have issued bonds aggressively, because they want to diversify its funding sources, and improve balance sheet before the new capital adequacy rules carry out at the same time.
Bankers and lawyers predict that China's banking industry will become the mainstream of the Asian bond market, and until last year, there is no one in the market.