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ICBC Will Sell Two Tranches of CDB Financial Bonds as of April 17
 

Reporters learned from Industrial and Commercial Bank of China (ICBC) today that, ICBC will simultaneously sell the second tranche of China Development Bank (CDB) financial bonds in 2019 to both individuals and corporate customers on April 17 and 18. ICBC will simultaneously sell the sixth tranche of CDB financial bond in 2019 to both individuals and corporate customers on April 19 and 22. Customers can subscribe for these two 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 (excluding non-working days).

It is reported that the second tranche of CDB financial bond in 2019 reissued for the fourth time in the over-the-counter (OTC) market is a three-year fixed-rate coupon bond. The par value is RMB100 and coupon rate is 3.03%, reissue price is RMB99.91 per RMB100 par value, and the reference yield to maturity corresponding to the reissued price is 3.3533%. 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. The sixth tranche of CDB financial bond in 2019 newly issued in the OTC market is a one-year fixed-rate coupon bond. The par value is RMB100, the issue price is RMB100.00 per RMB100 par value, and the coupon rate will be determined by bidding in the interbank market on April 18.

Bond 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 111 tranches of OTC CDB bonds.


(2019-04-19)
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