By Wendy Van Sickle
Columbus, Ohio, May 20 – Bank of Qingdao Co., Ltd. said it issued RMB 4 billion of financial bonds in two types on Monday.
Type one is a three-year fixed-rate bond with an issue size of RMB 3 billion.
Type two is RMB 1 billion of five-year fixed-rate bonds.
This was the company’s first tranche of financial bonds in 2019.
The company said it is approved to issue up to a total of RMB 8 billion of financial bonds.
Proceeds will be used to optimize the matching structure of mid- and long-term assets and liabilities, increase the sources of stable mid- and long-term liabilities and support the development of mid- and long-term assets business.
The bank is based in Qingdao, China.
| Issuer: | Bank of Qingdao Co., Ltd.
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| Issue: | Fixed-rate financial bonds
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| Amount: | RMB 4 billion
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| Issue date: | May 20
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| Type 1
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| Amount: | RMB 3 billion
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| Tenor: | Three years
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| Type 2
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| Amount: | RMB 1 billion
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| Tenor: | Five years
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