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National Bank of Canada issues Panda Bonds in Mainland China
National Bank of Canada issues Panda Bonds in Mainland China Canada NewsWire ...
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[{"type":"text","content":"\n \n \n \n National Bank of Canada issues Panda Bonds in Mainland China\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n MONTREAL\n \n \n ,\n \n \n Nov. 24, 2023\n \n \n /CNW/ - National Bank of\n \n Canada\n \n is pleased to announce that, on\n \n October 30, 2023\n \n , it issued the first series of its 2023 Panda Bond program raising\n \n RMB1 billion\n \n (equivalent to approximately\n \n CAD191 million\n \n ) in the context of a public offering in Mainland China's Interbank Bond Market. This marks National Bank of\n \n Canada's\n \n first issuance as part of its latest\n \n RMB10 billion\n \n Panda Bond program approved by the People's Bank of\n \n China\n \n on\n \n February 17, 2023\n \n , and following the launch of its inaugural Panda Bond program in 2016. The bond was priced at an annual coupon rate of 3.20% and has a three-year term.\n \n \n \n \n \n \n \n \n \n This issuance was made possible with the help of National Bank of\n \n Canada's\n \n appointed Lead Underwriter and Lead Bookrunner, Bank of China Limited, Joint Lead Underwriters and Joint Lead Bookrunners, namely, China Merchants Securities Co., Ltd, Industrial and Commercial Bank of China Limited, Agricultural Bank of China Limited and DBS Bank (\n \n China\n \n ) Limited, as well as from syndicate members Industrial Bank Co., Ltd. and Deutsche Bank (\n \n China\n \n ), Co., Ltd.\n \n \n As part of the issuance, National Bank of\n \n Canada\n \n , one of the six systemically important banks in\n \n Canada\n \n , and its 2023 Panda Bonds (Series 1) both received a AAA rating from a Mainland China credit rating agency, China Chengxin International Credit Rating Co., Ltd.\n \n \n \n \n Caution Regarding Forward-Looking Statements\n \n \n \n \n Certain statements in this press release are forward-looking statements. These statements are based on a number of assumptions and are subject to risk factors, inherent risks and uncertainties, many of which are beyond National Bank of\n \n Canada's\n \n control and the impacts of which are difficult to predict, inc...