The first bond for merger and acquisition purposes was issued via public offering on China's interbank bond market on Thursday. The bond bears a maturity of 5 years, with the coupon rate standing at 4.38 percent.
Evergrowing Bank and Bank of Nanjing will serve as joint leading underwriters of the issue. Hu Haifeng, executive director of the research institute of Evergrowing Bank, noted that the issuance of such bonds will be of great importance in diversifying financial products and at the same time help commercial banks to explore more capital channels so as to solve enterprises' financing difficulties.
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