Yinzhou Bank issued ¥2 bln of financial bonds

Details

Category: Ningbo Business

Published: Tuesday, 20 November 2012 09:24

Yinzhou Bank openly issued 2 billion yuan of financial bonds in the national inner-bank bond market a few days ago, and the raised funds were set to loan to small and micro enterprises. It becomes the first rural financial institution across China which got the approval to issue that kind of financial bond.
 The bonds spans three years with an interest rate of 5 percent. According to relative personnel of Yinzhou Bank, the bank would decide the lending rate in terms of the raised funds, providing preferential rate for medium-sized, small and micro enterprises as much as possible. The amount of loan is expected to reach four bln to five bln in 2013, and the beneficiaries will increase by 600 companies, a fact indicates that those companies can hire 24,000 more workers and create output value of five bln yuan.