From March 7 to 8, ICBC sold three tranches of China Development Bank (CDB) bonds, i.e. the first, second and third tranches of CDB financial bonds in 2018, to individuals and non-financial institutional customers. Customers could subscribe for the three tranches of financial bonds via both ICBC e-banking channels and outlets, of which the e-banking channels provided services around the clock during the issuance period.

It is reported that the first tranche of CDB financial bond in 2018 reissued for the second time in the over-the-counter (“OTC”) market is a one-year fixed-rate coupon bond, known as 18 CDB 01. The bond code is 180201 and the face value RMB100. Its value date, redemption, coupon rate, and trading and custody methods are the same as those of the CDB bonds of the same tenor issued previously. Its coupon rate is 4.14%, and reissuing price is RMB100.51 per RMB100 par value, and the corresponding yield to maturity is 4.0436%. The second tranche of CDB financial bond in 2018 reissued for the first time in the OTC market is a two-year fixed-rate coupon bond, known as 18 CDB 02. The bond code is 180202 and the face value RMB100. Its value date, redemption, coupon rate, and trading and custody methods are the same as those of the CDB bonds of the same tenor issued previously. Its coupon rate is 4.53%, and reissuing price is RMB100.50 per RMB100 par value, and the corresponding yield to maturity is 4.4550%. The third tranche of CDB financial bond in 2018 newly issued in the OTC market is a three-year fixed-rate coupon bond, known as 18 CDB 03. The bond code is 180203 and the face value RMB100. Its coupon rate is 4.62%.

An ICBC official said that the re-issue mechanism for OTC CDB bonds would bring the OTC market closer to issuance rules in the interbank market and improve bond liquidity. Customers can seize the market opportunity to re-subscribe for bonds during re-issuance for investment purpose. Since CDB bonds were sold via counters of commercial banks for the first time in May 2014, ICBC has distributed 35 OTC CDB bonds on regular basis. Besides, CDB launched 2-year OTC CDB bonds for the first time in 2018, which further enriches investment portfolios for customers.