ePrime Congratulates CDB HK Branch's Dual Tranche Bond Issuance
18 July 2022
ePrime is delighted to support China Development Bank Hong Kong Branch’s successful dual-tranche issuance (offshore RMB and HKD) on July 12, 2022. The transaction was run on ePrime throughout the bookbuilding, pricing and allocation process via its web interface, by major participants such as Bank of China (Hong Kong) Limited as JGC, JBR, JLM and B&D bank, as well as China Construction Bank (Asia) Corporation Ltd., Industrial and Commercial Bank of China (Asia) Ltd., Mizuho Securities Asia Ltd, Shanghai Pudong Development Bank Co. Ltd. Hong Kong Branch as JGC, JBR & JLM.
The transaction raised RMB 2.5 billion for the 5 year offshore RMB tranche at 2.95%, 15bps below the offshore secondary market, with a peak orderbook size of RMB 12.2 billion. The 2 year HKD tranche raised HKD 3.5 billion at 2.85%, which was priced against the 3M Hibor swap rate for the first time and equivalent to 0.2% below 3M Hibor. The 2 year tranche was priced 25bps below the secondary market, and the orderbook reached HKD 11.4 billion at its peak.
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 29 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 41 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 2.5 billion for the 5 year offshore RMB tranche at 2.95%, 15bps below the offshore secondary market, with a peak orderbook size of RMB 12.2 billion. The 2 year HKD tranche raised HKD 3.5 billion at 2.85%, which was priced against the 3M Hibor swap rate for the first time and equivalent to 0.2% below 3M Hibor. The 2 year tranche was priced 25bps below the secondary market, and the orderbook reached HKD 11.4 billion at its peak.
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 29 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 41 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.