OREANDA-NEWS. November 13, 2012. China Development Bank (CDB) and its 15-year renminbi bond offering were named “Best Issuer of the Year” and “Bond Deal of the Year” at the first Thompson Reuters IFR China Awards ceremony in Beijing, reported the press-centre of CDB. 

IFR (International Financing Review) regularly conducts award ceremonies in major financial markets across the world. Overseas, the awards are generally given to investment banking institutions; the debut of the China Awards also featured non-investment banks as recipients. A total of twelve awards were given to overseas and domestic RMB-denominated stocks, bonds, loans, institutions, and individual brokers that were active between June 2011 and June 2012. CDB was the only bank to receive two concurrent awards.

IFR praised CDB's innovation in the domestic bond market and its contributions to the development of an offshore RMB market in Hong Kong. In a statement, IFR noted that “over the 12-month review period, CDB completed many financings that broke new ground for Chinese issuers in the capital markets. With a recent track record boasting a 50-year domestic finance bond, the longest tenor issued by any non-government issuer in China, and a Dim Sum bond that established an unprecedented 15-year benchmark in the offshore renminbi bond market, it was hard to see beyond CDB in this category.”

Reuters congratulated CDB on the award, praising its “unparalleled innovation and extraordinary contribution in the development of an RMB bond market.” Reuters believes that CDB will continue to have a leading edge in China's bond market, and create a broader and more vibrant space for development.

CDB acknowledged the honor, noting that its success was due in part to China's economic and bond market development and the ongoing support CDB received from both regulators and investors. As a player, shaper, and leader in RMB markets, CDB will continue to work with all stakeholders in expanding and deepening renminbi markets in an effort to further raise the currency's global profile and influence.