40yrs out, FRN in as CDB preps for new dim sum
China Development Bank (CDB) is poised to be the first Chinese policy bank this year to tap the dim sum bond market after receiving a long-awaited quota from the National Development and Reform Commission (NDRC). And as part of its role to develop the offshore renminbi bond market, it will introduce a rare floating rate tranche that could generate confidence in the nascent CNH Hibor fixing.
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