On 6 February, China Eximbank issued a 1-year RMB3 billion bond for novel coronavirus control in the inter-bank bond market with a coupon rate of 1.61%, 50bps lower than the average interest rate of financial bonds of the same maturity. Funds raised will be used to support credit delivery on areas of epidemic prevention and control. The bond attracted subscriptions from different types of investors nationwide, including state-owned commercial banks such as Industrial and Commercial Bank of China (ICBC), Bank of China (BOC), and Agriculture Bank of China (ABC), national joint-stock commercial banks such as China Everbright Bank and Shanghai Pudong Development Bank, city and rural commercial banks such as Bank of Hangzhou, Bank of Tianjin, Guangzhou Rural Commercial Bank, and financial institutions such as CITIC Securities, Donghai Securities and China Life Asset Management Company Limited. Thanks to their strong support, the bid-to-cover ratio of the bond stood at 12.35, showing the strong determination and solidarity of all members in the market to fight the epidemic.
As one of the first bonds issued after 2020 Spring Festival holiday, the bond is a prompt and targeted response of the Bank to the decisions and arrangements made by the CPC Central Committee and the State Council. In so doing, the Bank took the initiative to fight the epidemic and showed a strong sense of responsibility.
Since the outbreak of the novel coronavirus epidemic, China Eximbank has delivered all-round and targeted financial services to its clients. Efforts were redoubled to support enterprises engaged in epidemic prevention and control and to provide vital relief to businesses hit by the epidemic. Up till now, the Bank has provided RMB4.5 billion loans to manufacturers?of medical, pharmaceutical?and anti-epidemic supplies in provinces and cities severely hit by the epidemic?including Hubei, Zhejiang, Jiangsu, Shanghai, Fujian?and?Guangdong.
In the next stage, China Eximbank will pay close attention to the epidemic’s impact on the economy and spare no effort in making new contribution to winning the battle against the epidemic.