London Stock Exchange today welcomes China Development Bank (CDB)
London Stock Exchange today welcomes China Development Bank (CDB), one of the largest development financial institutions in the world and the major bank that provides medium and long term financing and investment services in China and in promoting development elsewhere in the world. As at the end of the 3rd Quarter of 2015, CDB’s total assets reached RMB11.4 trillion and ranked No. 87 among Global Fortune 500.
In October 2015, CDB closed the USD1 billion and EUR500 million dual-tranche notes transactions successfully in the international bond market. The notes are admitted to trading on the Professional Securities Market of the London Stock Exchange. The proceeds for this transaction are primarily to be used to support project investments in Europe. This transaction extends from the UK-China Financial Dialogues, and marks the latest achievement of deeper cooperation between the two countries.
Mr. Hu Huaibang , Chairman of CDB said that CDB recognised London as a key global financial centre. He believes that London's depth of financial activities, vigor and comprehensive infrastructure will create a conductive environment for deeper corporation between China and the UK.
Bank of China, BOCOM HK Branch, Standard Chartered Bank, HSBC, BNP PARIBAS and J.P. Morgan acted as joint lead managers and joint bookrunners and Linklaters acted as legal counsel to CDB.