China Development Bank Corporation (CDB) initially issued 20-year RMB bonds in Hong Kong on Thursday, and the debut issuance has been well received by the long-tenor securities investors.

CDB issued its 2.5 billion yuan (0.39 billion US dollars) bonds1 on Thursday. The total subscription amount reached 3.3 times of the issue size. The issue size of the 3-year tranche is 1. 5 billion yuan and the issue size of the 20-year tranche is 1 billion yuan.

CDB is the largest issuer among all Mainland financial institutions in terms of the RMB bonds issued in Hong Kong, with its accumulated issues amounting to 19 billion yuan.

"Following the initial offering of the 2.5 billion bonds of a tenor of 15 years earlier this year, CDB's debut issuance of the 20-year tranche has been well received by the long-tenor securities investors, including central banks, insurance companies and asset management companies. This successful issuance further extends the yield curve of offshore RMB bonds, symbolizes the establishment of a complete yield curve for offshore RMB bonds and provides a pricing benchmark for RMB financial products in the international capital markets", said Gao Jian, executive vice president of CDB.

In addition to bonds placement to traditional Asia-Pacific investors, the placement of part of the 3-year RMB bonds to African central banks was the first-ever investment in RMB bonds by African central banks. About 60 percent of the bonds were placed to European, Middle East and African investors.

The participation of diverse types of investors from the above regions demonstrates the international market's recognition of the credit status and outstanding business performance of CDB, and the overseas investors'confidence in the long-term economic prosperity and stable development of China.

The total 6 billion bonds issued by CDB this year are scheduled to be listed on the Stock Exchange of Hong Kong Limited in early August. The listing of the bonds will increase the size and type of RMB bonds listed in Hong Kong, facilitate the development of Hong Kong bonds market in depth and breadth by giving an impetus and a good example to other issuers, and reinforce the status and competitiveness of Hong Kong as an offshore RMB business centre.( One US dollar is equivalent to 6.38 yuan)