China Exim Bank plans 2 bln yuan bond issue in Hong Kong - report |
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Wed, 01 Aug 2007 00:47
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BEIJING (XFN-ASIA) - The Export-Import Bank of China, one of the country's three policy banks, plans to issue 2 bln yuan worth of yuan-denominated bonds in Hong Kong around Aug 9, the official Shanghai Securities News reported, citing a source close to the matter.Last month, the bank received approval from the central bank to issue yuan-denominated bonds in Hong Kong, following China Development Bank, becoming the country's second domestic financial institution to win such approval.In June, China Development Bank issued 5 bln yuan worth of two-year bonds with a coupon of 3 pct a year in Hong Kong, receiving 14 bln yuan worth of subscriptions.The bonds will be issued to both institutional and individual investors, the report said. No further details were provided.The report cited market analysts as saying that if the bonds have a duration of two years, the yield is most likely to be set at about 3 pct, the same as the bonds issued by China Development Bank.China Construction Bank and dual-listed Bank of China are expected to issue such bonds in Hong Kong in the fourth quarter, the report added.(1 usd = 7.57 yuan)zachary.wei@xfn.com-xfnzw/xfntmCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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China Development Bank raises retail bond issue in Hong Kong to 2.5 bln yuan 