The Agricultural Development Bank of China (ADBC) issued three batches of financial bonds on Monday amid brisk demand from investors.
The three batches of bonds bear a respective maturity of 1 year, 3 years and 7 years, with yields standing at 2.5878 percent, 3.2337 percent and 3.6527 percent respectively.
Insiders disclosed that the subscription ratios of the three batches of bonds reached 3.51, 3.14 and 3.74 times the volumes offered.
Statistics from China Government Securities Depository Trust & Clearing Co. showed that yields on the 1-year, 3-year and 7-year fixed interest rate policy bank bonds traded on the domestic interbank market stood at 2.6671 percent, 3.2893 percent and 3.6922 percent respectively.
Analysts noted that though domestic bond market faced increasing pressure of correction in the short-term, the current loose liquidity condition and weak economic fundamentals still provided a support to bond market. These were the additional issue of the 12th, 18th and 19th batches of bonds offered by the policy bank in 2015.
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