Leading regional lender Shanghai Pudong Development Bank (SPD Bank) has just completed a 40 billion yuan bond issue.
SPD Bank said that the “Shanghai Pudong Development Bank 2021 Second Financial Bond” (上海浦东发展银行股份有限公司2021年第二期金融债券) issue was completed on 6 December on the Chinese interbank bond market, after garnering approval from the Chinese central bank and the China Banking and Insurance Regulatory Commission (CBIRC).
The issue was for 40 billion yuan, with a maturity of three years and a coupon rate of 2.97%.
SPD Bank said that the funds would be used to satisfy its asset allocation needs, shore up capital sources, optimise its liability maturity structure, and drive the stable development of operations.
