Foreign
THE Bank of China (BOC), has assisted the Asian Infrastructure Investment Bank (AIIB) in successfully issuing 2.5 billion Yuan (about 349.33 million dollars) of sustainable development panda bonds.
The bonds are with a five-year maturity and a coupon rate of 2.7 per cent.
The BOC said on Wednesday that the funds raised from the bond issuance would be used to support sustainable infrastructure development.
This was the second time that the BOC had assisted the AIIB in issuing such bonds in China this year.
In April, as the leading underwriter and book-runner, the BOC assisted the AIIB in the issuance of 1.5 billion Yuan of sustainable development panda bonds with a five-year maturity and a coupon rate of 2.93 per cent.
Panda bonds are Yuan-denominated debts sold by overseas issuers in China inaugurated in 2005.
The market has witnessed booming growth since 2015, it has become a significant financing channel for overseas institutions and enterprises. (Xinhua/NAN)
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Tags: Asian Infrastructure Investment Bank Bank of China
