China Exim Bank applies for issuing more bond in HK

The Export-Import Bank of China (Exim Bank), one of the three policy banks in China, plans to issue more RMB-denominated bonds in Hong Kong, according to its governor Li Ruogu.

The bank has submitted its application to regulators. The issuance, if approved, would be the second batch of RMB-denominated bonds in Hong Kong.

The bank has won the regulatory approval to issue RMB 2 billion worth of RMB-denominated bonds in Hong Kong last July, becoming the second mainland bank to issue such bonds in the region after China Development Bank (CDB), another policy bank.

The bonds were 2.6 times oversubscribed, of which the two-year retail tranche worth of RMB 1 billion has a yield rate of 3.05%, and the yield rate of the three-year institutional tranche is 3.2%.