The Agricultural Development Bank of China (ADBC) issued three batches of financial bonds on Friday amid brisk demand from investors. The three batches of bonds bear a respective maturity of 1 year, 5 years and 7 years, with yields standing at 2.7055 percent, 3.4743 percent and 3.6801 percent.
Insiders disclosed that the subscription ratios of the three batches of bonds reached 2.80, 2.34 and 3.22 times the volumes offered. Statistics from China Government Securities Depository Trust & Clearing Co. showed that yields on the 1-year, 5-year and 7-year fixed interest rate policy bank bonds traded on the domestic interbank market stood at 2.8449 percent, 3.4906 percent and 3.7154 percent respectively.
Analysts noted that given the weak economic performance in the country, bond yields were expected to post decline in the future. These were the additional issue of the 12th, 19th and 20th batches of bonds offered by the policy bank in 2015.
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