OREANDA-NEWS. August 22, 2014. Agricultural Bank of China Limited (ABC) successfully set up the domestic and foreign currency medium term note programme (MTN Programme) in the total amount of USD15 billion. The issuers include the ABC Head Office, Hong Kong Branch and other overseas branches. Moody’s and Standard & Poor rated it A1 and A respectively.

The programme broke the single scale record of global MTN programmes of Chinese banks.
MTN Programme is a medium and long-term financing tool commonly used in the world. The issuer can issue multi-duration and multi-currency notes for many times in many places through the single programme. It features strong flexibility, short time of bond issuance, broad financing channels and low financing costs.

In recent years, ABC has increased the overseas financing. In early July 2013, ABC Hong Kong Branch set up a MTN Programme in the amount of USD5 billion and successfully issued the first RMB Formosa bonds in Taiwan and RMB Rhine bonds in Frankfurt among Chinese banks through the programme. The establishment of ABC's global MTN Programme will further improve its active liability capability overseas, further expand its investor bases, and consolidate and improve its brand image and market position in the international financial market.