19 May 2019

Banks plan to sell 19 bln yuan NCDs, Bloomberg says

Chinese banks plan to sell 19 billion yuan (US$3.13 billion) worth of negotiable certificates of deposit (NCDs), Bloomberg News reported Wednesday, citing data from China Foreign Exchange Trade System. China Construction Bank Corp. (CCB) (00939.HK, 601939.CN) and Bank of China Ltd. (BoC) (03988.HK, 601988.CN) will both offer 5 billion yuan worth of 3-month NCDs, the report said. China Development Bank Corp. will offer 3 billion yuan of 6-month NCDs while Agricultural Bank of China Ltd. (ABC) (01288.HK, 601288.CN) and Industrial and Commercial Bank of China Ltd. (ICBC) (01398.HK, 601398.CN) will both sell 3 billion yuan worth of NCDs, with maturities at 3 months and 1 month, respectively.

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