BEIJING, June 12 (Xinhua) -- The Asian Infrastructure Investment Bank (AIIB) issued on Thursday 3 billion yuan worth of 3-year panda bonds on the China's interbank bond market, according to a statement issued by the AIIB.
This batch of bonds is the first of its kind issued by the AIIB with the coupon rate standing at 2.40 percent.
The raised funds will be used to support member countries to fight against the COVID-19 pandemic in the short term, said Jin Liqun, president and chairman of the bank, adding that in the long term, it will support AIIB's investment in sustainable infrastructure projects.
The panda bonds drew strong demand from investors with subscription ratio reaching 2.78 times the volume offered.
Headquartered in Beijing, the AIIB began operations in January 2016. It is a multilateral development bank with a mission to improve social and economic outcomes in Asia.
(Edited by Yang Yifan with Xinhua Silk Road, yangyifan@Xinhua.org)