China Cinda to issue RMB 20 billion of three-year, five-year bonds

By Toni Weeks

San Luis Obispo, Calif., May 21 - China Cinda Asset Management Co., Ltd. said it intends to issue RMB 20 billion of bonds on May 27, according to a press release.

The company will issue three-year fixed-rate bonds as well as five-year fixed-rate bonds.

Upon completion, the bonds will be traded in the national interbank bond market in China in accordance with the relevant regulations of the People's Bank of China.

Proceeds will be used to replenish the company's operation capital, optimize its assets and liabilities structure and promote business development and financial innovation.

The company received approval from shareholders in May 2013 to issue up to RMB 20 billion of the bonds. It also said it has the approval of the China Banking Regulatory Commission as well as the People's Bank of China to issue the bonds.

The Beijing company provides asset management, consulting, investment, financial and risk management services to individuals and businesses.

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