Bocom International (HKG:3329) unit Preferred Investment Management purchased $13.5 million of bonds to be issued by SNB Funding on March 17 from HSBC (HKG:0005) in the over-the-counter market.

The debt securities are part of SNB Funding's planned issuance of $750 million worth of floating rate senior unsecured bonds due 2030.

SNB Funding is a wholly-owned subsidiary of the Saudi National Bank, a Thursday filing with the Hong Kong bourse said.

The firm acquired the bonds, which will be listed on the London Stock Exchange and the Taipei Exchange, for investment purposes.