First Perpetual Bond Issue by Chinese Policy Bank Scheduled for 27 July


The first issue of perpetual bonds by one of China’s big three policy banks is scheduled to take place at the end of July.

The Export-Import Bank of China (Exim Bank of China) announced on 22 July that it plans to raise 60 billion yuan (approx. USD$9.27 billion) via the issue of open-ended capital bonds on 27 July.

The duration of the bonds will be consistent with the ongoing operations of Exim Bank, and the issuer has conditional redemption rights and write-down clauses.

According to domestic media the issue will mark the first issue of perpetual bonds by a Chinese policy bank.