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China Everbright Bank to issue RMB 20 bln bonds

Mar. 23, 2012 (China Knowledge) - China Everbright Bank Co Ltd<601818>, the banking unit of state-owned China Everbright Group, announced today that it plans to issue two tranches of five-year financial bonds worth RMB 20 billion in total on Mar. 28.

The bank said in a statement that it will issue RMB 10 billion of bonds with a fixed rate and RMB 10 billion bonds with a floating rate.

In addition, the lender has an option to issue an additional RMB 10 billion of bonds.

Coupon rate will be determined during the process of book-building. Value date of the bonds is set on Mar. 29 and interest will be paid annually.

China Chengxin International Credit Rating Co Ltd has rated the issuer and notes AAA and AAA, respectively.
Industrial and Commercial Bank of China<601398><1398> and China Construction Bank Co<601939><0939> have been hired as joint lead underwriters for the offering.

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