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Bank of China Markets First Basel III Bonds to U.S. Investors

Bank of China Ltd. is marketing a bond that complies with new global banking regulations known as Basel III to U.S. investors in a first for a Chinese lender.

China’s fourth-largest bank is offering the 10-year subordinated 144A notes to yield 300 basis points over similar-maturity Treasuries, according to people familiar with the matter. It aims to sell about $3 billion of the securities, the people said, asking not to be identified because they aren’t authorized to speak publicly.