The Agricultural Development Bank of China (ADBC) issued three batches of financial bonds on Friday amid brisk demand of investors.
The three batches of bonds bear a respective maturity of 2 years, 5 years and 7 years, with yields standing at 3.0875 percent, 3.3571 percent and 3.5923 percent respectively.
Insiders disclosed that the subscription ratios of the three batches of bonds reached 3.43, 3.73 and 3.19 times the volumes offered.
Statistics from China Government Securities Depository Trust & Clearing Co. showed that yields on the 2-year, 5-year and 7-year fixed interest rate policy bank bonds traded on the domestic interbank market stood at 3.1870 percent, 3.4355 percent and 3.6400 percent respectively.
"The rebound of bond market has something to do with institutions' allocation at the year end. As some of them predict that bond yields are likely to decline in 2016, they begin to allocate bonds beforehand," said Xu Hanfei, chief bond analyst with Guotai Junan Securities. These were the additional issue of the 12th, 17th and 20th batches of bonds offered by the policy bank in 2015.
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