Updated: ADBC takes on euros for diversification

By Morgan Davis
20 Nov 2018

Agricultural Development Bank of China (ADBC) has dipped into the euro market for the first time to diversify its investor base, despite having no real need for the currency and having to pay up for the fundraising.

Monday’s €500m transaction was a landmark for the Chinese policy bank, which only debuted in dollars in September. But in a very strategic move, ADBC decided to introduce itself to the European market and build new investor relationships, despite its lack of need for euros.

“ADBC felt it ...

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