Bloomberg News

Agriculture Bank, Rail Ministry, Harbin: China New Bond Alert

March 07, 2013

Agriculture Development Bank of China, the Ministry of Railways and Harbin Electric Co. are among issuers that may sell bonds in the nation’s debt markets.

Domestic Bonds

AGRICULTURE DEVELOPMENT BANK OF CHINA: The bank plans to issue 490 billion yuan ($79 billion) of bonds this year, Xinhua News Agency reports today, citing a meeting attended by the underwriting group, which wasn’t identified. (Added March 8)

MINISTRY OF RAILWAYS: The ministry will sell 20 billion yuan of one-year bonds today, according to a statement posted on Chinamoney.com.cn, a website of the China Foreign Exchange Trade System. (Updated March 8)

HARBIN ELECTRIC CO.: The company has won regulatory approval to sell five-year bonds with the size of the first portion amounting to 3 billion yuan, according to a statement to the Hong Kong stock exchange. (Added March 7)

MAANSHAN IRON & STEEL: The company’s board approved the sale of 900 million yuan of five-year bonds by its subsidiary in the eastern Chinese city of Hefei, according to a statement to the Shanghai Stock Exchange. (Added March 6)

MINISTRY OF RAILWAYS: The ministry will be granted a quota to sell 150 billion yuan of bonds annually for several years, 21st Century Business Herald reported, citing an unidentified person from the ministry. (Added Feb. 22)

CHINA MINSHENG BANKING CORP. LTD.: The company has approval from the China Securities Regulatory Commission to sell 20 billion yuan of convertible bonds, according to a statement to the Shanghai stock exchange. (Added Feb. 8)

Dim Sum Bonds

DEUTSCHE BANK AG: The bank plans to sell up to 2 billion yuan of bonds in Taiwan as soon as the first quarter, Reuters reported, citing three sources with close knowledge of the issue. (Added Feb. 25)

SHENZHEN QIANHAI DEVELOPMENT AND INVESTMENT HOLDINGS CO.: The company may sell 1.5 billion yuan of three-year Dim Sum bonds as early as March with an interest rate of 4 percent, the Hong Kong Economic Times reported, citing unidentified people. (Added Feb. 8)

To contact the reporter on this story: Kyoungwha Kim in Singapore at kkim19@bloomberg.net

To contact the editor responsible for this story: James Regan at jregan19@bloomberg.net


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