OREANDA-NEWS. March 24, 2011. The Bank of East Asia (“BEA”) announces that its wholly-owned subsidiary on the Mainland, The Bank of East Asia (China) Limited (“BEA China”), completed the issue of its first batch of Renminbi (“RMB”) financial bonds (the “Bonds”) in an aggregate principal amount of RMB2 billion in Mainland China’s interbank bond market, reported the press-centre of BEA China.

The interest rate of the Bonds was fixed at 4.39% per annum, with a term of two years.

The Bonds were issued in accordance with the approval from the People’s Bank of China in December 2010 for BEA China to issue RMB financial bonds worth up to RMB5 billion in China’s interbank bond market. The bond issue will provide BEA China with an effective funding source to support its robust growth in Mainland China, enhance its asset and liability structure and improve its overall liquidity management.