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Agricultural Development Bank of China
Industry

Industrial Bank issues RMB30 bln special bonds to ramp up support for small businesses

May 07, 2020


Abstract : Industrial Bank raised 30 billion yuan through the domestic interbank bond market in a bid to provide loans to the country's epidemic-hit small- and micro-sized enterprises, the Xinhua-run China Securities Journal reported on Wednesday.

BEIJING, May 7 (Xinhua) – Industrial Bank raised 30 billion yuan through the domestic interbank bond market in a bid to provide loans to the country's epidemic-hit small- and micro-sized enterprises, the Xinhua-run China Securities Journal reported on Wednesday.

The bank issued on Wednesday 23 billion yuan of 3-year financial bonds and 7 billion yuan of 5-year ones, with coupon rates of 2.17 percent and 2.67 percent, respectively.

By the end of 2019, the lender has boasted overall 81,700 clients with small business loans, with the balance of loans amounting to 634.867 billion yuan.

So far, the bank has granted a line of credit worth over 8 billion yuan for 426 small and medium-sized enterprises amid the battle against the COVID-19 outbreak.

(Edited by Yang Yifan with Xinhua Silk Road, yangyifan@xinhua.org)

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Keyword: SME bonds

Reading:

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Chinese private firms use more debt instruments for financing

Thai Energy Ministry to roll out measures to help private sector affected by COVID-19

China's policy bank issues 2 bln yuan of bonds to aid ecological protection

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