ePrime Congratulates CDB HK Branch's Belt and Road Themed Bond Issuance
12 December 2025
ePrime Issuance Service congratulates China Development Bank Hong Kong Branch’s successful dual-tranche 3 and 5 year offshore RMB Belt and Road Themed bond issuance totaling 4 billion on 26 November, 2025. The main participating institutions in the above bond issuances completed bookbuilding, order allocation, and pricing smoothly through ePrime Issuance Service.
The transaction raised RMB 3 billion for the 3-year tranche at 1.73% and the 5-year tranche raised RMB 1 billion at 1.80%. The pricing was closely aligned with the yields of China Development Bank onshore bonds of comparable tenors, serving as a valuable exploration toward identifying reasonable onshore-offshore yield spreads, and contributing to the construction of an offshore bond yield curve for China Development Bank.
The proportion of orders from local banks in Hong Kong and Macao significantly increased, benefiting from the latest policies by regulatory authorities in Hong Kong and Macao—which reclassified risk exposures for Chinese policy banks assets under the official institution category. The issuance received widespread attention from a diverse range of investors, including sovereign wealth funds, Hong Kong Mandatory Provident Fund managers, banks, and asset management companies.
In recent years, China Development Bank Hong Kong Branch has actively promoted the development of offshore Renminbi loan projects involving Belt and Road Initiative as well as initiatives under the China Development Bank’s 350 Billion RMB Financing Window. By strengthening efforts on both the asset and liability fronts, it has intensified its focus on RMB business, supporting Hong Kong's position as the premier offshore RMB center. This issuance marks a significant milestone in the strategic cooperation between Bond Connect Company Limited ("BCCL") and China Development Bank Hong Kong Branch in offshore bond issuance. Looking forward, BCCL remains committed to fostering the further development of the offshore RMB bond market.
In collaboration with CFETS and launched in 2020, ePrime is an electronic solution for the primary bond market across the issuers, underwriters and investors specialized in the China cross-border workflow. It has two components to cater issuance and subscription applications: ePrime Issuance Service and ePrime Northbound Subscription Service.
ePrime Issuance Service offers a platform for issuing, primary book building, pricing and allocation for offshore securities including US dollar-denominated bonds, Renminbi bonds, Hong Kong dollar bonds and other currencies. It has successfully supported various issuances from policy banks and commercial banks and onboarded 44 offshore underwriters.
Please contact us at eprime@chinabondconnect.com / (852) 2327 0398 for enquiries.
© 2025 Bond Connect Company Limited. All rights reserved.
Disclaimer: The information contained in this document is for general informational purposes only and does not constitute an offer, solicitation, invitation or recommendation to buy or sell any securities or to provide any investment advice or service of any kind. This document is not directed at, and is not intended for distribution to or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation or which would subject any of Bond Connect Company Limited ("BCCL") and/or its affiliates to any registration requirement within such jurisdiction or country.
No section or clause in this document may be regarded as creating any obligation on BCCL and/or its affiliates. Rights and obligations with regard to the trading and settlement of any securities effected on the CFETS, including through the Bond Connect, shall be set out solely in the applicable rules of the Entities, as well as the applicable laws, rules and regulations of Mainland of China and Hong Kong in effect from time to time.
Although the information contained in this document is obtained or compiled from sources believed to be reliable, BCCL and/or its affiliates assume no responsibility or liability for any errors, omissions or other inaccuracies in the information or for the consequences thereof. **It should not be used as a substitute for investment, accounting, tax, legal or other professional advice. If you are in any doubt about the contents of this document, you should seek independent professional advice.**BCCL and/or its affiliates assume no responsibility or liability for any cost, expense, loss or damage, directly or indirectly, howsoever caused, of any kind, arising from the use of or reliance upon any information provided in this document, or in the presentation given.
**Forward-looking statements: This document may contain forward-looking statements, including but not limited to projections, estimates, forecasts, and opinions. These statements are based on assumptions and are subject to risks and uncertainties that could cause actual results to differ materially. BCCL and/or its affiliates do not undertake any obligation to update these statements in light of new information or future events. **
Disclaimer: The information contained in this document is for general informational purposes only and does not constitute an offer, solicitation, invitation or recommendation to buy or sell any securities or to provide any investment advice or service of any kind. This document is not directed at, and is not intended for distribution to or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation or which would subject any of Bond Connect Company Limited ("BCCL") and/or its affiliates to any registration requirement within such jurisdiction or country.
No section or clause in this document may be regarded as creating any obligation on BCCL and/or its affiliates. Rights and obligations with regard to the trading and settlement of any securities effected on the CFETS, including through the Bond Connect, shall be set out solely in the applicable rules of the Entities, as well as the applicable laws, rules and regulations of Mainland of China and Hong Kong in effect from time to time.
Although the information contained in this document is obtained or compiled from sources believed to be reliable, BCCL and/or its affiliates assume no responsibility or liability for any errors, omissions or other inaccuracies in the information or for the consequences thereof. **It should not be used as a substitute for investment, accounting, tax, legal or other professional advice. If you are in any doubt about the contents of this document, you should seek independent professional advice.**BCCL and/or its affiliates assume no responsibility or liability for any cost, expense, loss or damage, directly or indirectly, howsoever caused, of any kind, arising from the use of or reliance upon any information provided in this document, or in the presentation given.
**Forward-looking statements: This document may contain forward-looking statements, including but not limited to projections, estimates, forecasts, and opinions. These statements are based on assumptions and are subject to risks and uncertainties that could cause actual results to differ materially. BCCL and/or its affiliates do not undertake any obligation to update these statements in light of new information or future events. **