(xhyyt)
Updated: 2007-08-09 16:02

HONG KONG -- The Export-Import Bank of China, one of the country's three policy banks, announced here Thursday that it will issue 2 billion yuan (about US$264 million) worth of Renminbi-denominated bonds in Hong Kong starting from Friday.  

This is the second time for Chinese mainland financial institutions to issue RMB bonds in Hong Kong following the issue of 5 billion yuan bonds by China Development Bank in June.

The 2 billion yuan bonds will be issued to both institutional and individual investors, each at 1 billion yuan. The duration of the bonds for individual investors is two years, with a 3.05 percent yield, 0.05 percent higher than the bonds of China Development Bank.

The bonds for institutional investors will have a duration of three years with the yield planned to be set on August 21 when the subscription period ends.