Bonds Apr 21

Shanghai bank gets nod for $7-billion bond issue

Regulators give green light to Shanghai Pudong Development Bank proposal

Shanghai bank gets nod for $7-billion bond issue
The Shanghai Pudong Development Bank. Photo: Wikipedia.

(ATF) Shanghai Pudong Development Bank (600000) announced today – April 21, 2020 – that the company had received a positive response from officials for a 50-billion-yuan bond issue.

The bank said the China Banking Regulatory Commission had agreed to its proposal for a public issuance of bonds with a value of no more than 50 billion yuan (US$7.07 billion). 

It had been given go-ahead for an administrative license issued by the People's Bank of China, the central bank, for the issuance in the national interbank bond market.

The approval limit is valid for two years from the date of the bond issuance.