The Singapore Exchange (SGX), on Dec 3, welcomed the listing of the onshore bonds of China Development Bank, marking the first time that China onshore RMB bonds are being listed on the exchange.
The bank is the world’s largest development finance institution, and China’s largest bank specialising in medium- to long-term lending and bond issuance.
It has issued over RMB20 trillion ($4.08 trillion) worth of bonds since its establishment in 1994.
A total of six CDB fixed rate bonds across tenors of 1, 3, 5, 7, 10 and 20 years are being listed on SGX.
The tenors are s a symbolic representation of CDB’s yield curve in the global bond market and underpins the continued momentum in the development and internationalisation of China’s financial markets.
“Today’s listing marks another milestone in three decades of strong bilateral ties between Singapore and China, and we are excited at the tremendous opportunities to grow this partnership, bridging financial markets in China and Singapore, and jointly serving issuers and investors globally,” says SGX CEO Loh Boon Chye.
“The listing of China Development Bank’s bonds on SGX further broadens our channels for promoting CDB bonds overseas, and supports our engagement with Singapore and global investors. It also strengthens the connectivity between the financial markets in China and Singapore, and plays a key role in the development and internationalisation of China’s financial markets,” adds a spokesperson for CDB’s treasury bureau.
