CDB prints first domestic USD bonds in six years

CDB prints first domestic USD bonds in six years

HONG KONG, Jun 4 (IFR) - China Development Bank has issued US$2bn of domestic US dollar bonds in China's interbank market, its first such issuance in six years, according to a statement on its website.

The one-year bonds, issued on June 3, carry a coupon of 0.38%. Settlement will be on June 10.

CDB said in the statement that the issuance enhanced its funding channels and diversified the offerings of foreign-currency investment products to domestic investors.

Bank of China, China Construction Bank, China Merchants Bank, Shanghai Pudong Development Bank, Bank of Beijing, Bank of Jiangsu, Bank of Ningbo, HSBC Bank (China) and Standard Chartered Bank (China) were underwriters.

Meanwhile Export-Import Bank of China is marketing US$300m three-year domestic bonds in China's interbank market today at 0.60%–1.00%, according to public filings.

Settlement will be on June 11.

Citic Securities is lead underwriter and lead bookrunner. Bank of China, China Construction Bank, HSBC Bank (China), Agricultural Bank of China and MUFG Bank (China) are joint lead underwriters and joint bookrunners.

(Reporting by Carol Chan; Editing by David Holland)

((c.chan@refinitiv.com; +852 3853 4300))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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