Chinese School - EximBank to issue 2b yuan RMB bonds in HK

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BIZCHINA / Center

EximBank to issue 2b yuan RMB bonds in HK

(Xinhua)
Updated: 2007-08-09 15:31

The Export-Import Bank of China, one of the country's three policy banks,
announced here Thursday that it will issue 2 billion yuan (US$264
million) worth of Renminbi-denominated bonds in Hong Kong starting from
Friday.

This is the second time for Chinese mainland financial institutions to
issue RMB bonds in Hong Kong following the issue of 5 billion yuan bonds
by China Development Bank in June.

The 2 billion yuan bonds will be issued to both institutional and
individual investors, each at 1 billion yuan. The duration of the bonds
for individual investors is two years, with a 3.05 percent yield, 0.05
point higher than the bonds of China Development Bank.

The bonds for institutional investors will have a duration of three years
with the yield planned to be set on August 21 when the subscription
period ends.

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