By William Gullotti
Buffalo, N.Y., March 14 – Bank of Zhengzhou Co., Ltd. reported completing the issuance of RMB 5 billion of 3.02% three-year bonds on China’s interbank bond market, according to an announcement on Tuesday.
The bank had obtained regulatory approval to issue up to RMB 10 billion of bonds.
Proceeds will be used to meet asset and liability allocation needs, to optimize liability maturity structure and for business development.
The bank is based in Zhengzhou, China.
| Issuer: | Bank of Zhengzhou Co., Ltd.
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| Amount: | RMB 5 billion
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| Issue: | Financial bonds (2023 first tranche)
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| Tenor: | Three years
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| Coupon: | 3.02%
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| Pricing date: | March 9
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| Settlement date: | March 13
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| Announcement date: | March 14
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