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ICBC Will Sell Three Tranches of CDB Financial Bonds as of November 21
 

The reporter learns from Industrial and Commercial Bank of China (ICBC) today, that ICBC will simultaneously sell the eleventh, twelfth and fourteenth tranches of China Development Bank (CDB) financial bonds in 2018 to both individuals and non-financial institutions on November 21 and 22. Customers can subscribe for these three tranches of financial bonds through ICBC e-banking channels and business outlets. The e-banking channels provide 24-hour uninterrupted services during the issue period.

It is reported that the twelfth tranche of CDB financial bond in 2018 reissued for the fifth time in the over-the-counter (OTC) market is a three-year fixed-rate coupon bond. The par value is RMB100, coupon rate is 3.68%, reissue price is RMB101.8 per RMB100 par value, and the reference yield to maturity corresponding to the reissued price is 3.2861%. The eleventh tranche of CDB financial bond in 2018 reissued for the fifth time in the OTC market is a five-year fixed-rate coupon bond. The par value is RMB100, coupon rate is 3.76%, reissue price is RMB101.92 per RMB100 par value, and the reference yield to maturity corresponding to the reissued price is 3.5514%. The fourteenth tranche of CDB financial bond in 2018 reissued for the second time in the OTC market is a seven-year fixed-rate coupon bond. The par value is RMB100, coupon rate is 4.15%, reissue price is RMB102.52 per RMB100 par value, and the reference yield to maturity corresponding to the reissued price is 3.7817%. The value date, redemption arrangement, coupon rate, trading and custody methods are the same as those of the previous CDB bond of the same tranche.

According to information, bonds reissue means that issuers make additional issue of bonds that have already been traded in the market after initial issue. The introduction of the reissue mechanism for OTC CDB bonds will make the OTC market more tailored to the issue rules of the interbank market and increase the bond liquidity. Customers can grasp the market opportunity to re-subscribe for the bonds they already hold during the reissue period, in order to properly manage their investment portfolios. Since CDB bonds were first offered over the counter of commercial banks in May 2014, ICBC has regularly issued 85 tranches of OTC CDB bonds.


(2018-11-27)
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