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The Export-Import Bank of China (“China Eximbank”) held a launch ceremony on 8 November 2010 in Hong Kong to announce its third public offering of Renminbi-denominated fixed rate bonds in Hong Kong from 9 to 26 November 2010. The fixed-rate bonds will be offered to both institutional and retail investors. The retail tranche has a denomination of RMB 10,000, with a tenor of 3 years. The fixed rate bonds will bear an interest rate of 2.65% per annum. Retail investors may apply for the bonds at any branch of the placing banks or through the telephone or internet application channels specified in the offering circular dated 5 November 2010 (the “Offering Circular”) during the subscription period. The aggregate principal amount (which includes the offering of the bonds to retail investors and the offering of the bonds and other debt securities to institutional and other investors) will not exceed RMB 5,000,000,000. The Joint Lead Managers and Bookrunners for the retail tranche and the Joint Lead Managers for the institutional tranche are Bank of China (Hong Kong) Limited, The Hongkong and Shanghai Banking Corporation Limited and Standard Chartered Bank (Hong Kong) Limited. The Bookrunners for the institutional tranche are Bank of China (Hong Kong) Limited and The Hongkong and Shanghai Banking Corporation Limited. The retail bonds will be available for public subscription at the branches of 20 banks in Hong Kong, including Bank of China (Hong Kong) Limited, Hong Kong Branch of the Bank of Communications Co. Ltd., The Bank of East Asia Limited, China Construction Bank (Asia) Corporation Limited, Chiyu Banking Corporation Limited, Chong Hing Bank Limited, Citibank (Hong Kong) Limited, CITIC Bank International Limited, Dah Sing Bank Limited, DBS Bank (Hong Kong) Limited, Fubon Bank (Hong Kong) Limited, Hang Seng Bank Limited, The Hongkong and Shanghai Banking Corporation Limited, Industrial and Commercial Bank of China (Asia) Limited, Nanyang Commercial Bank Limited, Public Bank (Hong Kong) Limited, Shanghai Commercial Bank Limited, Standard Chartered Bank (Hong Kong) Limited, Wing Hang Bank Limited and Wing Lung Bank Limited. Addressing at the launch ceremony, Mr. Li Ruogu, Chairman and President of China Eximbank, said, “This is China Eximbank’s third Renminbi bonds offering in Hong Kong. We hope that by issuing the bonds, we can contribute to the development of the Hong Kong market by providing a quality Renminbi debt security investment product, widening the market’s investment choices and build a broader connection with Hong Kong financial institutions for further cooperation and development.” Founded in 1994, China Eximbank is a state policy bank under the direct leadership of the State Council and solely owned by the Chinese government. Its international credit ratings are compatible to the national sovereign ratings. It is an important component of China’s financial system and a significant supportive force for China’s foreign economy and trade system. It is the main channel of policy financing for the export and import of Chinese mechanical and electrical products, complete sets of equipment and new and high-tech products, as well as China’s overseas construction contracts and outbound investments. It is also the major on-lending bank of the Foreign Government Loans and the operating bank of Chinese Government Concessional Loans. It is playing a more important role in pushing forward the development of China’s open economy. |
