ICBC issued the 5th counter-based bonds of China Development Bank in 2016 to retail and non-financial institutions on September 7-9. The 14-tranche financial bonds of 2016 are one-year, fixed-interest coupon bonds, with the code of 160214 and a coupon rate of 2.13%. Customers may subscribe through 24-hour e-banking channels and outlets. In addition, customers can also participate in promotions related to personal counter-based book-entry bond subscription.

An official with ICBC said that counter-based CDB bonds are a typical fixed-gain product with high credit rating, strong security and low transaction threshold. Single bond transaction threshold and minimum increase unit are both RMB 100. Upon expiry, bond holders may obtain stable interest income or trade bonds through e-banking channels and outlets. And the real-time clearing of transaction funds meet customers’ demands for liquidity. Meanwhile, customers can use market price fluctuations to gain price differences. 

Since the first issuance in May 2015, ICBC has issued 13 tranches of counter-based CDB bonds, which has satisfied the public demand for safe and transparent bonds with moderate gains and demonstrated the increasingly important role of commercial banks’ counter-based market in the bond distribution. It is of great significance to expanding financing channels for issuers, reducing financing costs and establishing a multi-tiered bond market system.