ICBC Simultaneously Issues Two Tranches of CDB Financial Bonds as of June 6-Home-ICBC China
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ICBC Simultaneously Issues Two Tranches of CDB Financial Bonds as of June 6
 

On June 6-7, ICBC will simultaneously sell the seventh and eighth tranches of China Development Bank (CDB) financial bonds in 2018 to both individuals and non-financial institutions. Customers can 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 issue period.

It is reported that the seventh tranche of CDB financial bond in 2018 re-issued for the fourth 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, and its coupon rate is 3.57%. The reissue price is RMB100.41 per RMB100 par value, and the reference yield to maturity corresponding to the reissue price is 3.6699%. The eighth tranche of CDB financial bond in 2018 re-issued for the third 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, and its coupon rate is 4.07%. The reissue price is RMB100.21 per RMB100 par value, and the reference yield to maturity corresponding to the reissue price is 4.1637%.

It is learnt that bond re-issue is the additional issue of a bond that has been under trading period after initial issue by the issuer. The introduction of the reissue mechanism for OTC CDB bonds will make the OTC market more tailored to the issuing rules of the interbank market and can increase 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 51 tranches of OTC CDB bonds.


(2018-07-13)
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