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.
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