17 September 2019

Five banks to put 15 bln yuan in NCDs up for sale, Caijing says

Five Chinese banks will sell up to 15 billion yuan (US$2.47 billion) worth of negotiable certificates of deposit (NCDs) Friday, news portal reported Thursday, citing statements by the lenders. Bank of Communications Co. Ltd. (03328.HK, 601328.CN), Shanghai Pudong Development Bank Co. Ltd. (600000.CN), China CITIC Bank Corp. Ltd. (00998.HK, 601998.CN) and China Merchants Bank Co. Ltd. (03968.HK, 600036.CN) will each issue 3 billion yuan in NCDs with maturity of three months. Industrial Bank Co., Ltd. (601166.CN) will offer 3 billion yuan of one-month NCDs.

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