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On Aug. 10-20, 2007, China Eximbank witnessed remarkable success in its issuance of RMB 2 billion bonds in Hong Kong. Targeting at both individual and institution investors, the total issuance amount of the bonds was RMB 2 billion, including RMB 1 billion for individual investors with a 2-year term and a par annual rate of 3.05%, and another RMB 1 billion for institutional investors with a 3-year term and a par annual rate of 3.2% respectively. The bonds were well received by the market and the total subscription amount reached RMB 5.36 billion, 2.68 times the issuance amount. The issuance of China Eximbank’s RMB bonds in Hong Kong further enriched RMB bond issuance institutions and bond types in Hong Kong, which will accelerate the development of RMB business in Hong Kong. This event also opened a new funding channel for the bank, through which the bank can establish more extensive contacts with Hong Kong investors. |
