China Development Bank returns to international bond market

Policy bank precedes sovereign with a benchmark issue in dollars and euros.

State-owned China Development Bank CDB returned to the international bond markets on Tuesday night September 27 with an increased dollar bond and decreased euro-denominated bond.

The 10-year dollar bond was initially slated to raise $500 million, but was increased to $600 million on the back of an order book totaling $1.6 billion. Pricing was fixed at 98.152% on a coupon of 4.75% to yield 4.987%. This equated to 99bp over Treasuries and 54bp over Libor. Fees...

To continue reading, please login or register for free

Click for more on: china | development | bank | returns | international | bond | market

Print Edition

FinanceAsia Print Edition