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Export-Import Bank of China to issue up to 13B yuan of bonds

Export-Import Bank of China plans to raise up to 13 billion yuan via the issuance of bonds in three tranches.

The policy lender will offer up to 5 billion yuan each of three-year bonds priced with a 4.83% coupon and five-year notes with a 4.97% coupon. The bank will also offer up to 3 billion yuan of 10-year bonds, with the coupon to be determined at auction.

The bonds will be offered March 22.

As of March 21, US$1 was equivalent to 6.33 Chinese yuan.