Bank of China Prices Offshore Preference Shares.pptVIP

* * Bank of China Prices Offshore Preference Shares 2014/10/30 Presenters: 陈雅琼 1203012207 黄 璇 1203012212 刘胜男 1203012222 刘雪琦 1203012223 /bizchina/2014-10/16/contenthtm Bank of China finished pricing its offshore preference shares on Wednesday, becoming the first listed company on the Chinese mainland to do so. According to a statement, the lender aims to raise $6.5 billion selling offshore preference shares and priced the interest rate of the equities at 6.75 percent. The issuance will be the largest single tranche?US dollar bank capital sale. Application has been made to the Hong Kong Stock Exchange for the listing of, and permission to deal in, the offshore preference shares issued to professional investors only and such permission is expected to become effective on Oct 24 this year. The move is a milestone in Chinas pilot program to issue preference shares. To help banks meet new global capital rules known as Basel III, the China Securities Regulatory Commission announced in March new rules of the pilot program allowing eligible companies to issue preference shares. Preference shares, along with common shares, are two primary types of stocks that companies offer to investors. Unlike common shares, preference shares function more like a bond. They are rated by major credit-rating companies and their prices are affected by change in interest rates. WORDS AND EXPRESSIONS offshore preference shares 境外优先股 listed company 上市公司 interest rate 利率 Equity 证券、股票、股市 eg： Chinese equities might be heading for a bubble. issuance 发行、发布 insurance 保险、保险费 deal in 参与、经营、买卖 pilot program 试点项目 credit-rating 信用评估 the largest single tranche?US dollar bank capital sale 最大的单笔美元银行融资交易 WORDS AND EXPRESSIONS eg:The company deals in both hardware and software. BACKGROUND INFORMATION 中国银行 中国银行（Bank of China limited, 简称 BOC）全称中国银行股份有限公司，是中国大型国有控股商业银行之一，也是中国国际化和多元化程度最高的银行，它的银行业务范围涵盖商业银行，投资银行和保险领域等。中国银行是国