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Standard Chartered issues first bond in China

Standard Chartered issues first bond in China

(15 April 2013 – China) Standard Chartered China has issued its first RMB 5 billion (A$768 million) three-year financial bond in China.

In a statement, Standard Chartered China said that with the approval from China Banking Regulatory Commission (CBRC) and the People’s Bank of China (PBOC), Standard Chartered China has successfully issued a financial bond of RMB 5 billion in the domestic inter-bank bond market.

The fund raised from this issuance will be used exclusively to support the Bank’s lending to small and micro enterprises.

Standard Chartered China’s maiden RMB financial bond issuance is the first by a foreign bank in support of small and micro enterprises in China, and to date the largest RMB bond issued by foreign banks in China.

The three-year bond has a coupon rate of 4.2 percent was fully subscribed by institutional investors in the domestic inter-bank bond market.

The co-lead underwriters for this issuance were Export-Import Bank of China, Industrial and Commercial Bank of China (ICBC), Agricultural Bank of China (ABC), and China International Capital Corporation Limited (CICC); with CICC as book runner and the Government Securities Depository Trust Company as the custodian.

The bond is rated AAA by China Cheng Xin International Credit Rating Company.

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