China Exim Bank to sell RMB 3 bln bonds in HK

China Export-Import Bank (China Exim Bank), one of three policy banks in China, plans to issue RMB 3 billion (US$438 million) of bonds with a 3.5% coupon later this month in Hong Kong, Reuters reported citing some banking sources.

Half of the bonds, with a maturity of three years, will be sold to institutional investors, with an equal amount to be sold to retail investors. The bonds will be available to retail investors on Aug.21.

So far, five Chinese banks, namely Bank of Communications, Bank of China, China Construction Bank, China Exim Bank and China Development Bank, have won the regulatory approval to issue RMB 3 billion of RMB-denominated bonds each in Hong Kong.

Last month, Bank of Communications sold RMB 3 billion of two-year bonds with a 3.25% coupon in Hong Kong.