Home >News Updates >ICBC News
ICBC Will Sell Two Tranches of CDB Financial Bonds from October 24

Industrial and Commercial Bank of China (ICBC) will simultaneously sell the 12th and 14th tranches of China Development Bank (CDB) 2018 Financial Bonds to both individual customers and non-financial institutions on October 24 and 25. Customers can subscribe for these 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 is reported that the 12th tranche of CDB 2018 Financial Bond reissued for the third time in the over-the-counter (OTC) market is a three-year fixed-rate coupon bond. The par value is RMB100. 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 coupon rate is 3.68%, reissuing price is RMB100.90 per RMB100 par value, and the reference yield to maturity corresponding to the reissuing price is 3.5258%. The 14th tranche of CDB 2018 Financial Bond newly issued in the OTC market is a seven-year fixed-rate coupon bond. The par value is RMB100 and the coupon rate is 4.15%.

According to sources, 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 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 78 tranches of OTC CDB bonds.