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Bank of Jinzhou to issue short-term financing instruments with PBOC support

The Bank of Jinzhou, another troubled Chinese regional bank, will issue short-term financing instruments backed by credit-boosting tools - repayment guaranteed with central bank funding, the authority’s latest move to ease concerns after the takeover of Baoshang Bank rattled markets.

The Bank of Jinzhou said it plans to issue 2 billion yuan 6-month negotiable certificates of deposit (NCDs) in the interbank market on Wednesday, according to the bank's filing to the exchange on Monday. The NCDs will be issued at a reference coupon of 3.21 per cent, which traders say is about average coupon for . . .

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