Mizuho Corporate Bank To Lead Manage Bond For China Development Bank

6th Jul 2010 07:26

TOKYO (Dow Jones)--Mizuho Corporate Bank Ltd. said Tuesday it will act as joint managing underwriter for China Development Bank's dollar bond offering later this week, the first time for a foreign bank to serve as a principal lead manager for a bond issuance by a Chinese bank. The wholesale banking unit of Japan's Mizuho Financial Group Inc., (8411.TO) along with Agricultural Bank of China, will lead manage China Development Bank's $400 million (Y36 billion) bond offer with principal due to mature in three years. China allowed foreign banks to underwrite bonds starting in July 2009 as part of an effort to become an international financial center by gradually opening up its capital market to foreign players. HSBC Holdings (HBC) has served as one of several underwriters, but not as lead underwriter. -By Atsuko Fukase, Dow Jones Newswires; 813-6269-2792; [email protected] (END) Dow Jones Newswires July 06, 2010 02:26 ET (06:26 GMT)