Export-Import Bank of China Issues 1-Year, 5-Year Bonds

Export-Import Bank of China, the nation's policy-related bank, on May 27 issued CNY 15 billion one-year financial bonds at a coupon rate of 3.5% and CNY 19.37 billion five-year financial bonds at a coupon rate of 3.87% including 0.62% interest margin via competitive bid.

The one-year bonds were the bank's eighth fixed-interest bonds issued this year, whose payment due date and value date are June 2. The bond will be in circulation from June 7 and will expire on June 2, 2012 with one-off repayment of principal and interest.

The five-year financial bonds are the bank's ninth float-interest bonds issued this year, whose payment due date and value date are June 14. The bonds will be in circulation from June 20 and pay interests half a year on June 14 and December 14 every year. They will expire on June 14, 2016.

In the first five months of 2011, 63 financial bonds were issued with fundraising totaling CNY 977.96 billion, representing a year-on-year surge of 97% and 93% respectively, according to Wind Information. Policy-related banks and commercial banks were major bond issuers.