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CCB Issues Bonds in Hong Kong
China Construction Bank (CCB) Friday issued bonds worth 200 million U.S. dollars in Hong Kong. The new bond, which will mature in five years, has an interest rate that floats at 55 basis points above LIBOR (London Interbank Offered Rate).
The main underwriters are Societe Generale, Netherlands Bank, and the Bank of America.
Funds raised by the bonds will be channeled to key state projects, the CCB said.
Wang Xuebing, president of CCB, said the successful issuance of the bonds will facilitate domestic construction projects and help restore confidence of overseas investors.
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