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China Development Bank prices 1 bln yuan bond at 3.35 pct - CIMB
April 1, 2014 / 4:52 AM / 4 years ago

China Development Bank prices 1 bln yuan bond at 3.35 pct - CIMB

KUALA LUMPUR, April 1 (Reuters) - China Development Bank Corp priced a 1 billion yuan ($160.82 million) bond with a coupon rate of 3.35 percent and strong interest from Southeast Asia, said Malaysia’s CIMB, one of the joint global coordinators for the deal.

CIMB said in a statement on Tuesday that the three-year dim sum bond was completed on an accelerated bookbuilding process with demand in excess of 1.8 billion yuan.

About 76 percent of the bond was allocated to investors from Southeast Asia, Japan and Korea as China Development Bank, the largest yuan-bond issuer in Hong Kong, looked to diversify its investor base, CIMB said.

CIMB said it was the joint global coordinator and joint lead manager for the bond, which is part of a 7 billion yuan debt issuance programme launched last November.

$1 = 6.2180 Chinese yuan Reporting by Niluksi Koswanage; Editing by Matt Driskill

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