China Cinda gets go-ahead for RMB 20 billion three-, five-year bonds

By Marisa Wong

Madison, Wis., May 5 – China Cinda Asset Management Co., Ltd. said it received approval from the China Banking Regulatory Commission and the People’s Bank of China to issue up to RMB 20 billion of financial bonds in China’s interbank bond market.

The bonds will have three- and five-year terms, according to a company announcement.

Proceeds will be used to replenish the company’s working capital, optimize the structure of it assets and liabilities and promote business development and financial innovation.

The company first announced plans to issue financial bonds in December.

Based in Beijing, China Cinda provides asset management, consulting, investment, financial and risk management services to individuals and businesses.

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