China Construction Bank Corporation (CCB)'s Singapore Branch issued 300 million Singapore dollars (SDG) of Belt and Road Initiative Infrastructure bonds Thursday to be listed on the Singapore Exchange Securities Trading Limited, the bank said.
The 300-million-Singapore-dollar two-year bonds were priced at a coupon of 2.643 percent, attracting investors from different countries and regions, including sovereign funds, financial institutions, insurance companies and fund managers.
The issue received orders in excess of 600 million Singapore dollars.
Including the previous 1 billion RMB bond (about 200 million Singapore dollars), CCB Singapore has raised in aggregate more than 1 billion Singapore dollars equivalent in the local market. S&P has granted "A" rating for this bond issue.
This is CCB Singapore Branch's second SGD bond issuance in the local debt markets as well as the third bond issuance within "The Belt and Road Initiative" Infrastructure bond series, another response to the China-proposed Belt and Road Initiative and an important step for the bank to take root in Southeast Asia.
CCB Singapore Branch was established in 1998 and this year marks its 20th anniversary. To date, the branch has participated in more than 20 projects with total contracts signed or services rendered amounted to approximately 10 billion U.S. dollars, covering Singapore and more than 10 countries and regions.