Bank of China is marketing bonds in US dollars, offshore renminbi and Singapore dollars in a jumbo fundraising to support China's Silk Road initiative.

The US dollar portion comes in maturities of 3, 5 and 10 years at 140bp, 150bp and 180bp over US Treasuries, respectively. The state-owned bank is also marketing 2-year Dim Sum bonds at a yield of around 3.75% and 4-year Singapore dollar bonds at around 3.0%.

Bank of China may add a euro tranche depending on interest from investors.

The size of the financing has yet to be fixed. Sources earlier told IFR the deal may reach as much as USD6-7bn.

Bank of China, Barclays, Citigroup, DBS and HSBC are joint global coordinators.

Under the so-called "One Belt, One Road" initiative, China aims to create a modern Silk Road to improve its connections to Europe and the Middle East. Projects under the plan include railways, highways, pipelines, power grids, and other infrastructure links.