Feb. 16, 2012 (China Knowledge) - Export-Import Bank of China
, one of the three government policy banks in China
, said it will issue not more than RMB 40 billion worth of fixed-rate bonds in two tranches on the interbank market starting from Feb. 17.
One tranche of RMB 20 billion three-year bonds will be issued from Feb. 21 to Feb. 22 with value date and payment due date be on Feb. 21, and the to-be-issued bonds will become tradable on Feb. 27.
For the other tranche of RMB 20 billion five-year bonds, the issue day will start from Feb. 17 to Feb. 23. Value date payment due date will be Feb. 23 and the to-be-issued bonds tradable on Feb. 29.
Proceeds from the two issues will be used to repay bank loans, said the Chinese policy lender.
Earlier this month, Export-Import Bank of China
signed a memorandum of understanding with Canaccord Financial Inc to launch the US$1 billion of China-Canada Natural Resource Fund for natural resource investment in Canada, sources reported.