British banking giant Standard Chartered has helped two of China’s big three policy banks raise US dollars via domestic bond issues.
Standard Chartered (China) served as underwriter for US dollar bond issues made by the China Development Bank (CDB) and the Export-Import Bank of China (Exim Bank) on the Chinese interbank bond market in early June.
This included a USD$2 billion issue made by CDB on 3 June, for which Standard Chartered served as underwriter, and a $300 million issue made by Exim Bank on 4 June, for which it served as chief underwriter.
CDB’s $2 billion issue is the largest US dollar issue ever made on the Chinese interbank bond market, while Exim Bank’s issue marks the first time that it has raised funds via dollar-denominated fixed-rate instruments in China.
