China Development Bank listed six billion (HK$7.36 billion) worth of yuan-denominated bonds on the Hong Kong stock exchange yesterday, giving investors an opportunity to trade securities with a maturity of up to 20 years.
The so-called dim sum bonds are listed on the Hong Kong stock exchange and also carry maturities of three years, five years and 15 years.
The bank's issue takes the number of yuan-denominated bond listings since 2007 to 41, worth 50 billion yuan. It is expected to boost Hong Kong's offshore yuan market and diversify the bond pool.
'CDB's bond listing will enhance yuan liquidity in Hong Kong,' said Charles Li Xiaojia, chief executive of the Hong Kong Exchanges and Clearing.
Li said the exchange would continue to improve and simplify listing procedures for dim sum bonds.
The bonds were sold through three issuances this year, the latest taking place last week when the bank sold 2.5 billion yuan worth of bonds with three-year and 20-year tenors.