CORRECT:China Development Bank Hong Kong Retail CNY Bond Coupon 2.45% -Source
("China Development Bank HK Retail Yuan Bond Coupon 2.4%-Source" published at 0533 GMT misstated the coupon rate in the headline and first paragraph. The correct version follows:)
HONG KONG -(Dow Jones)- China Development Bank Corp. set a coupon of 2.45% on the retail portion of its two-year yuan-denominated bonds to be launched in Hong Kong on Tuesday, a person familiar with the matter said Saturday.
China Development Bank plans to raise up to CNY3 billion from the offering, which will be open to both retail and institutional investors, the person said.
Details of the institutional tranche haven't been fixed yet, the person added.
Although China Development Bank transformed into a stockholding commercial bank from a policy lender last year, its bonds will continue to have the same credit rating as Chinese government bonds until the end of 2010. Standard & Poor's and Fitch Ratings have an A+ credit rating on Chinese government bonds.
-By Aries Poon, Dow Jones Newswires; 852-2832-2332; aries.poon@dowjones.com
Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=uT5Dk26oJ0wLWmCKIxnhiA%3D%3D. You can use this link on the day this article is published and the following day.
("China Development Bank HK Retail Yuan Bond Coupon 2.4%-Source" published at 0533 GMT misstated the coupon rate in the headline and first paragraph. The correct version follows:)
HONG KONG -(Dow Jones)- China Development Bank Corp. set a coupon of 2.45% on the retail portion of its two-year yuan-denominated bonds to be launched in Hong Kong on Tuesday, a person familiar with the matter said Saturday.
China Development Bank plans to raise up to CNY3 billion from the offering, which will be open to both retail and institutional investors, the person said.
Details of the institutional tranche haven't been fixed yet, the person added.
Although China Development Bank transformed into a stockholding commercial bank from a policy lender last year, its bonds will continue to have the same credit rating as Chinese government bonds until the end of 2010. Standard & Poor's and Fitch Ratings have an A+ credit rating on Chinese government bonds.
-By Aries Poon, Dow Jones Newswires; 852-2832-2332; aries.poon@dowjones.com
Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=uT5Dk26oJ0wLWmCKIxnhiA%3D%3D. You can use this link on the day this article is published and the following day.
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