Banking News
- China Exim Bank to issue 2 bln yuan RMB bonds in Hong Kong
Date: 10-Aug-2007 Sources: (Xinhua Online)
HONG KONG, Aug. 9 (Xinhua) -- The Export-Import Bank of China, one of the country's three policy banks, announced here Thursday that it will issue 2 billion yuan (about 264 million U.S. dollars) 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 Aug. 21 when the subscription period ends.
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