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China Development Bank to auction RMB 20 bln bond

Jan. 6, 2012 (China Knowledge) - China Development Bank or CDB, one of the three policy banks in the country, today announced plans to issue up to RMB 20 billion worth of fixed-rate bonds with a maturity of ten years on the interbank market on January 10.

Coupon rate will be determined in the process of book-building. Both value date and payment due date will be January 16, and the to-be-issued bonds are tradable on January 20.

This will be the issuer's first bond in 2012.

In addition, CDB, which issued RMB 1.07 trillion worth of bonds in 2011, plans to issue 12 tranches of book-entry T-bonds worth a total of RMB 240 billion with maturity of five years and ten years this year.   

Sources reported that CDB will issue RMB 6 billion worth of RMB-denominated bonds in Hong Kong at the middle of this month, adding that the road show will be started next week. Bank of China (Hong Kong) Ltd has been assigned as the distributor.

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