China Development Bank (CDB) issued five batches of bonds amid brisk demands on Tuesday.
The five batches of bonds bear a maturity of 1 year, 3 years, 5 years, 7 years and 10 years, with the auction yields standing at 2.5805 percent, 3.2511 percent, 3.4885 percent, 3.8136 percent and 3.8001 percent respectively. Statistics from China Government Securities Depository Trust & Clearing Co. showed that yields on the 1-year, 3-year, 5-year, 7-year and 10-year fixed interest rate policy bank bonds traded on the domestic interbank market stood at 2.752 percent, 3.325 percent, 3.559percent, 3.865 percent and 3.862 percent respectively.
Market players disclosed that the subscription ratios reached 4.96, 4.88, 3.01, 2.94 and 3.30 times the volumes offered. Analysts noted that the stock market plunge fueled up investors' risk-aversion sentiment and prompted them to turn to safe-haven assets to duck risks, which provided a support to bonds.
These were the additional issue of the 10th, 13th, 15th, 16th and 17th batches of bonds offered by the bank in 2015. The raised proceeds would be used to support shantytown restoration projects and urban infrastructure construction.
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