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Further details including the issuance day, coupon rate and term of these Chinese yuan-denominated bonds have not been clinched by far. Hong Kong and Shanghai Banking Co., Ltd. and BOC Hong Kong are hired to support the sales.
CDB had issued CNY 5 billion yuan-denominated bonds in Hong Kong in June 2007, orient to the institutional and individual investors. The 2-year bonds attached a coupon rate of 3% finally lured subscriptions of over CNY 14 billion. It is the first mainland-based financial institution that sells yuan-denominated bonds in Hong Kong.
By far, five mainland banks have got licenses to issue yuan-dominated bonds in Hong Kong. Their combined issuance in the past two years was CNY 22 billion.
Source: www.cnstock.com (June 09, 2009)
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