Banking

China Eximbank to launch 5b yuan-denominated bonds in HK

(Xinhua)
Updated: 2010-11-08 15:06

HONG KONG - The Export-Import Bank of China (China Eximbank), one of the country's policy lenders, said on Monday it would launch a total of 5 billion yuan ($750 million) of yuan-denominated fixed rate bonds in Hong Kong.

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It is the third time for China Eximbank, the only government export credit agency on Chinese mainland, to issue public offering of yuan-denominated fixed rate bonds in Hong Kong.

The 3-year-term bonds, having a denomination of 10,000 yuan, would be offered to both institutional and retail investors, with an annual interest rate of 2.65 percent, the bank said.

The offering would last from Nov 9 to Nov 26. As a policy-oriented statutory financial institution, China Eximbank has issued a total of 5 billion yuan-denominated bonds in Hong Kong since 2007, when China's central bank permitted mainland-based financial institutions to issue?yuan bonds in Hong Kong.