ePrime Congratulates CDB HK Branch's Belt and Road Themed Bond Issuance
23 April 2024
ePrime is delighted to support China Development Bank Hong Kong Branch‘s successful dual-tranche 3 and 5 year offshore RMB Belt and Road Themed issuance totaling 2.8 billion on 16 April, 2024. The transaction was run on ePrime throughout the bookbuilding, pricing and allocation process via its web interface, by major participants including Bank of China (Hong Kong) as Joint Lead Manager, Joint Bookrunner, and Billing & Delivery bank, as well as Credit Agricole CIB, HSBC, and Mizuho as Joint Lead Managers and Joint Bookrunners.
The transaction raised RMB 1.4 billion for the 3-year tranche at 2.45% and the 5-year tranche raised RMB 1.4 billion at 2.6%, with a total peak orderbook size of RMB 9.2 billion.
This issuance successfully compressed the interest rate spreads between CDB offshore RMB bonds and domestic CDB RMB bonds as well as offshore CGB bonds, and further improved the yield curve of CDB offshore RMB bonds. The funds raised will be used to support the joint construction of the Belt and Road projects in a market-oriented and commercial manner.
Mr. Tony Wang, General Manager of BCCL, commented, “We are delighted to support China Development Bank’s issuance which involves funding projects related to the Belt and Road Initiative through China Development Bank’s RMB350 billion financing window. China Development Bank has been one of the earliest users of ePrime system. This marks another significant milestone in BCCL’s ongoing partnership with China Development Bank and Bank of China (Hong Kong) in overseas bond issuance.”
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 global issuance service and ePrime Northbound primary service. ePrime global 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 34 offshore underwriters. ePrime Northbound primary service allows offshore investors to participate in the Northbound subscription of CIBM new issuances by establishing connectivity with CFETS systems. The cross-border service has attracted registration by more than 60 offshore investors and facilitated offshore participation in the subscriptions of Chinese government bonds, policy financial bonds, green bonds, super short-term commercial papers, etc.
Please contact us at eprime@chinabondconnect.com / (852) 2327 0398 for enquiries.
The transaction raised RMB 1.4 billion for the 3-year tranche at 2.45% and the 5-year tranche raised RMB 1.4 billion at 2.6%, with a total peak orderbook size of RMB 9.2 billion.
This issuance successfully compressed the interest rate spreads between CDB offshore RMB bonds and domestic CDB RMB bonds as well as offshore CGB bonds, and further improved the yield curve of CDB offshore RMB bonds. The funds raised will be used to support the joint construction of the Belt and Road projects in a market-oriented and commercial manner.
Mr. Tony Wang, General Manager of BCCL, commented, “We are delighted to support China Development Bank’s issuance which involves funding projects related to the Belt and Road Initiative through China Development Bank’s RMB350 billion financing window. China Development Bank has been one of the earliest users of ePrime system. This marks another significant milestone in BCCL’s ongoing partnership with China Development Bank and Bank of China (Hong Kong) in overseas bond issuance.”
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 global issuance service and ePrime Northbound primary service. ePrime global 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 34 offshore underwriters. ePrime Northbound primary service allows offshore investors to participate in the Northbound subscription of CIBM new issuances by establishing connectivity with CFETS systems. The cross-border service has attracted registration by more than 60 offshore investors and facilitated offshore participation in the subscriptions of Chinese government bonds, policy financial bonds, green bonds, super short-term commercial papers, etc.
Please contact us at eprime@chinabondconnect.com / (852) 2327 0398 for enquiries.
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This document does not constitute a prospectus, an offer or an invitation to subscribe any securities or bonds, or a recommendation in relation to any securities or bonds. Investors should note investment involves risk and past performance is not indicative of future results. Investors should refer to the offering circulars of the bonds for further details including risk factors, in particular those associated with investment in emerging markets.
Disclaimer: This document is prepared by Bond Connect Company Limited and is for general information purposes only. It should not be used as a substitute for investment, accounting, tax, legal or other professional advice. It is not directed at, nor is it 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 the applicable law, regulation or regulatory requirement, or which would subject us Bond Connect Company Limited, or any of our affiliates, to any licensing or regulatory requirement in such jurisdiction or country. Neither we nor any of our affiliates (i) guarantee the accuracy, validity, timeliness, completeness or correctness of any such information or data and (ii) accept any responsibility in that connection, or any liability for any direct or indirect loss or damage arising from the use of or reliance on any such information or data.
This document does not constitute a prospectus, an offer or an invitation to subscribe any securities or bonds, or a recommendation in relation to any securities or bonds. Investors should note investment involves risk and past performance is not indicative of future results. Investors should refer to the offering circulars of the bonds for further details including risk factors, in particular those associated with investment in emerging markets.