China Development Bank kicks off dim sum bonds

China's policy bank plans to issue a multi-tranche dim sum bond to raise up to Rmb6 billion including a 15-year bond. Will investors bite?

China Development Bank kicks off dim sum bonds
A 2011 dim sum ad focusing on the "taking off" metaphor

Asia’s dollar bond market got off to a roaring start last week, and the dim sum market is now following suit. China Development Bank CDB is in the market this week with a multi-tranche offshore renminbi bond to raise up to Rmb6 billion $949 million, according to market sources.

The deal will establish a new benchmark, offering investors a 15-year tenor through a publicly marketed deal for the first time. It will be sold...

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