Chinese Company Issues First $350 Million Tech Innovation Bond Raised in Digital Yuan

A Chinese infrastructure company has successfully raised $350 million in digital yuan for its new technology innovation bond. With the $350 million (¥2.5 billion) funds raised in China’s central bank digital currency (CBDC), the bond sets a precedent for future financial products and a new record for its low coupon rate of 2.94% with the 3+N years term in Shandong province. This science and technology innovation bond has CITIC Securities as the lead underwriter and GF Securities, Dongxing Securities, Orient Investment Bank, and Huatai United Securities as joint lead underwriters. The issuance of the bond marks the Group’s elevated move to promote China’s CBDC.

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