外语教育网
您的位置:外语教育网 > 行业英语 > 金融英语 > 相关阅读 正文
  • 站内搜索:

IFC, ADB OK'd for bond issuing

2006-05-12 17:53

国际金融公司和亚洲发展银行同意在大陆发行人民币债券

  China yesterday announced the International Finance Corporation (IFC) and the Asian Development Bank (ADB) had been approved to issue their first batch of yuan-denominated bonds on the Chinese mainland, making them the first multilateral financial group to do so on the mainland.

  The Ministry of Finance publicized the information on its official website, saying the State Council had approved IFC and ADB's applications to issue the yuan-dominated bonds.

  The ministry said the bonds would be named Giant Panda Bonds because according to international practice, a multilateral financial institution always selects the country's mascot as the name for the local currency-dominated bonds.

  However, the ministry said the details of the issuing of the bonds, including timing and the amount had to be approved by the People's Bank of China, the country's central bank.

  The size and time period of the bonds depends on the market situation at the time of the issue, but a longer time period would be preferable as it could help build the domestic financial market, said Karin M. Finkelston, IFC's Senior Country Manager for China and Mongolia in an interview earlier with China Daily.

  "IFC is very grateful for the opportunity to issue bonds in China's domestic capital markets," said IFC Acting Executive Vice-President Assaad Jabre.

  "The IFC bond, when issued, will contribute to our broader strategy of helping China develop stronger and deeper domestic capital markets," Jabre said.

  IFC also announced the proceeds of IFC's bond issue would be used to finance private sector projects that IFC had already selected and appraised.

  Since 1985, IFC has invested more than US$2 billion in 100 private sector companies in China.

  As one of IFC's fastest growing client countries, China is the corporation's ninth largest country portfolio. In the 2004 fiscal year, IFC committed US$391 million in 19 projects while the annual commitments in the last three years are about US$100 million. It makes China the largest country programme in the fiscal year 2004. As the private sector arm of the World Bank Group, IFC has been the first, or among the first, non-residents to issue in many currencies. It funds its lending activities by issuing bonds in the international capital markets. The Corporation's securities, which are rated Aaa by Moody's and AAA by S&P, have been issued in 33 different currencies. IFC's funding program for fiscal year 2006 is around US$2 billion.

  ADB said that its bonds would be issued in the interbank market through a syndicate of underwriters managed by BOC International (China) Ltd.

  "ADB is privileged to be part of this important initiative. This is a major step forward in the development of China's capital market," said Mikio Kashiwagi, ADB's Treasurer.

  ADB said it would use the proceeds of the bonds to provide its clients in China with local currency financing.

  ADB has a long-standing tradition of undertaking market-opening transactions in the region's domestic bond markets including Japan, Republic of Korea, India, Malaysia and Thailand.

  The planned issue will represent another milestone in ADB's quest to develop the region's bond markets.

相关热词:行业 英语
行业英语辅导课程
李 健协和医科大学医学博士,美国国立卫生研究院博士后……详情>>
李健:医学英语网上辅导名师
高 云澳大利亚注册会计师协会会员,会计专业硕士……详情>>
高云:财会英语网上辅导名师
李文沛中国政法大学博士,师从著名法学家周忠海教授……详情>>
李文沛:法律英语网上辅导名师

  1、凡本网注明 “来源:外语教育网”的所有作品,版权均属外语教育网所有,未经本网授权不得转载、链接、转贴或以其他方式使用;已经本网授权的,应在授权范围内使用,且必须注明“来源:外语教育网”。违反上述声明者,本网将追究其法律责任。
  2、本网部分资料为网上搜集转载,均尽力标明作者和出处。对于本网刊载作品涉及版权等问题的,请作者与本网站联系,本网站核实确认后会尽快予以处理。本网转载之作品,并不意味着认同该作品的观点或真实性。如其他媒体、网站或个人转载使用,请与著作权人联系,并自负法律责任。
  3、联系方式
  编辑信箱:for68@chinaacc.com
  电话:010-82319999-2371