China's agricultural bank issues billions in overseas bonds
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E-mail Xinhua, August 7, 2020
The Agricultural Development Bank of China (ADBC), the third-largest bonds issuer in China, has launched 4.3 billion yuan (about 619 million U.S. dollars) in overseas bonds.
Of the total, 2.5 billion yuan will mature in three years and 1.8 billion yuan will mature in five years, with a fixed interest rate of 2.6 percent and 2.85 percent respectively, according to the bank.
It marked the bank's first batch of overseas yuan-dominated bonds after receiving new quota approval for such issuance from the National Development and Reform Commission in 2020, according to the ADBC.
The issuance was well-received by overseas investors, with the bid amount exceeding 11.4 billion yuan, 3.82 times the original 3-billion-yuan circulation, said the ADBC.
The funds raised will be used to support the epidemic containment and economic recovery, as well as promote rural vitalization, among other important areas.
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