ICBC will sell the seventh issue of CDB financial bonds in 2017 to personal and non-financial institutional customers from July 26 to 27. The reissued CDB financial bond is a coupon bond with a fixed interest rate and a term of one year. The bond code is 170207, and the face value is RMB100, with the value date, payment arrangement, coupon rate, transaction and custody methods identical with those of the previous CDB bonds. With a coupon rate of 3.53%, the reissue price is RMB 100.14 per RMB 100 face value, which indicates a yield to maturity of 3.5506%.

An official with ICBC said that reissuance of bonds refers to additional issuance by the issuer to the initially-offered bonds which have entered the trading phase. The value date, coupon rate, payment arrangement and maturity date of the reissued bonds are the same as those in the previous period, while the actual issue price is usually different from the original issue price. Customers can subscribe for the bonds through ICBC’s E-banking channel and outlets. E-banking channels provide 24-hour non-stop trading during the issuance period.

The reissue mechanism of CDB bond in OTC market will make the OTC market better aligned with the inter-bank market issue rules and improve the liquidity of bonds. In addition, customers can also use market opportunities to re-subscribe for held bonds during the issuance period to proactively manage investment.