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ICBC Issued Two Tranches of CDB Financial Bonds as of May 9
 

On May 9-10, ICBC simultaneously sold the seventh and eighth tranches of China Development Bank (CDB) financial bonds in 2018 to both individuals and non-financial institutions. Customers could subscribe for the two tranches of financial bonds through ICBC e-banking channels and business outlets. The e-banking channels provide around-the-clock services during the issuing period.

It was reported that the seventh tranche of CDB financial bond in 2018 re-issued for the second time in the OTC market is a 1-year fixed-rate coupon bond with a bond name of 18 CDB 07, a bond code of 180207 and a par value of RMB100. Its value date, redemption arrangement, coupon rate, trading and custody methods etc. are the same as those of the previous bonds of the same tranche. Its coupon rate is 3.57%, and reissuing price was RMB100.27 per RMB100 par value, and the reference yield to maturity corresponding to the reissuing price was 3.5227%.

The eighth tranche of CDB financial bond in 2018 re-issued for the first time in the OTC market is a 3-year fixed-rate coupon bond with a bond name of 18 CDB 08, a bond code of 180208 and a par value of RMB100. Its value date, redemption arrangement, coupon rate, trading and custody methods etc. are the same as those of the previous bonds of the same tranche. Its coupon rate is 4.07%, and reissuing price was RMB99.97 per RMB100 par value, and the reference yield to maturity corresponding to the reissuing price was 4.1370%.

It is learned that bond re-issuance is the additional issuance of a bond already available for trading in the market, and the value date, redemption arrangement and other elements shall be the same as those of the original bonds. The introduction of the reissuing mechanism for OTC CDB bonds will make the OTC market more tailored to the issuing rules of the inter-bank market and increase the bond liquidity. Customers can grasp the market opportunity to re-subscribe for the bonds they already hold during the reissuing 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 46 tranches of OTC CDB bonds.


(2018-05-31)
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