The Agricultural Development Bank of China (ADBC) auctioned 3-tranche fixed-rate financial bonds, namely 1-, 3- , and 7-year bonds on Wednesday, with the yields standing at 2.700 percent, 3.3434 percent and 3.8986 percent respectively.
According to statistics released by China Government Securities Depository Trust & Clearing Co., the recent inter-bank yield on 1-, 3- , and 7-year fixed-rate financial bonds was 2.8117 percent, 3.4182 percent and 3.9261 percent, respectively.
These three batches of bonds drew stable demand from investors, with the subscription ratios at 2.33, 3.06 and 3.30. Analysts noted that the central bank scaled up its reverse repos offering this week and pumped 110 billion yuan (17 billion U.S. dollars) into the market through medium-term lending facility (MLF), which to some extent eased investors' worries about the future liquidity condition and provided a support to the bond offerings.
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