Eximbank Issues 8 Billion Yuan in Financial Bonds

The Export and Import Bank of China (Eximbank) issued 8 billion yuan (about 976 million US dollars) worth of 10-year floating rate financial bonds on Wednesday.

The issuance was made through public bidding,, with rate margin of 0.648 percent. The interest rate for the bonds will be revised annually.

This is the third issuing of financial bonds by the Eximbank, and it is also the first long-term issue for this year. In 2001 the bank plans to issue a total of 45.5 billion yuan in financial bonds.

By the end of last year, the Eximbank had issued an aggregate of 75.4 billion yuan in financial bonds, with an outstanding amount of 54 billion yuan. It had repaid due principal of 21.4 billion yuan and interest of 9.43 billion yuan, keeping a good record in bond repayment.

People's Daily Online --- http://english.peopledaily.com.cn/