Eximbank Issues Five-billion-yuan BondThe China Export and Import Bank (Eximbank) announced Wednesday that it has successfully issued 5 billion yuan (US$602.4 million) in ten-year floating rate bonds through public bidding, with approval from the People's Bank of China, the central bank.A spokesman for the bank said that the basic spread margin for the bidding stood at 0.555 percent, while the exercise rate of the bond will be defined each year. He said that 39 underwriters tendered the bidding, with the total bidding volume reaching 33.86 billion yuan (US$4.08 billion), 6.77 times the volume of the bond. Eximbank has issued bonds five times since 1998, totaling two billion yuan (US$240 million), sources said. The bank has supported the exports of machinery and electronic products and equipment involving high technology, high added value and sound profits since it started business in July 1994. |
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