Agricultural Development Bank of China sets guidance for two-, three-, five-year renminbi notes

By Aleesia Forni

Columbus, Ohio, June 14 - Agricultural Development Bank of China set initial price guidance for its renminbi-denominated offering of two-, three- and five-year notes, according to a market source.

Initial guidance was set at the 3% area for the two-year issue, 3.2% area for the three-year notes and 3.35% to 3½% for the five-year notes.

Earlier in the week, the bank mandated Bank of China, Standard Chartered Bank, ICBC, CCB International Capital, Agricultural Bank of China and Bank of Communications as the bookrunners.

Agricultural Development Bank of China is a policy bank based in Beijing.

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