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Agricultural Development Bank issued a total of 5.7 billion yuan of offshore RMB bonds

2020-10-21T13:15:51.628Z


The Agricultural Development Bank successfully priced the issuance of offshore RMB bonds with maturities of 3 years, 5 years, and 10 years, respectively, with the scale of 2.2 billion yuan (RMB ‧ the same below), 1.5 billion yuan and 2 billion yuan, for a total of 5.7 billion yuan.


Financial News

Written by: Zhang Weilun

2020-10-21 21:06

Last update date: 2020-10-21 21:07

The Agricultural Development Bank successfully priced the issuance of offshore RMB bonds with maturities of 3 years, 5 years, and 10 years, respectively, with the scale of 2.2 billion yuan (RMB ‧ the same below), 1.5 billion yuan and 2 billion yuan, for a total of 5.7 billion yuan. They were 3.05%, 3.25% and 3.8%, which were 27 basis points, 30 basis points and 4 basis points lower than the domestic bond yields of the same year.

This time, the Agricultural Bank of China received 15.3 billion yuan in issuing overseas bonds, which was 1.69 times oversubscribed.

This is also the first attempt by the Agricultural Development Bank to issue 10-year bonds overseas. It is also the first 10-year offshore RMB bond issued by a policy bank in recent years. It also set the record for the lowest coupon rate of bonds of Chinese-funded financial institutions during the same period. It is an offshore RMB bond. The market provides a new pricing basis to further improve the offshore RMB yield curve.

The Bond Connect Overseas Issuance System (ePrime) was used for the first time in the initial issuance of bond bookkeeping files.

The joint global coordinators for this issuance are Bank of China, Standard Chartered Bank and Bank of Communications, and the joint underwriters and joint bookrunners are Bank of China, Standard Chartered Bank, Bank of Communications, Agricultural Bank of China Hong Kong, CCB Asia, ICBC Asia, ICBC Asia, Pudong Bank of China International, CLSA, Mizuho Securities, Agribusiness, China Trust, KGI and DBS Bank.

Bond/Bond Investment Bond Connect

Source: hk1

All news articles on 2020-10-21

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