China Development Bank appoints Citi as Agent on US$5 billion Certificate of Deposit programme

HONG KONG – Citibank’s Agency and Trust business, part of Citi’s Issuer Services division, has been appointed Paying Agent, Registrar, Transfer Agent and CMU Lodging and Paying Agent for the China Development Bank, Shanghai Branch USD 5 billion Certificate of Deposit programme.

The transaction is China Development Bank’s first collaboration with Citi since the signing of an MoU in 2016.

Founded in 1994, China Development Bank is a policy financial institution under the direct leadership of China’s State Council. It was incorporated as China Development Bank Corporation in December 2008, and officially defined by the State Council as a development finance institution in March 2015.

Proceeds raised from the offering are to be used as medium- to long-term financing facilities that serve China’s major long-term economic and social development strategies. www.citi.com (ATI).