BAKU, Azerbaijan, October 13. The Eurasian Development Bank (EDB) has made its debut issuance of dim sum bonds in Hong Kong's offshore Chinese yuan market, placing a three-year tranche of senior unsecured bonds worth 630 million yuan (about $94 million), the bank reported.
The bonds are listed on the Hong Kong Stock Exchange and were issued under the EDB's new $3.5 billion medium-term note (MTN) program. The offering was oversubscribed more than 2.5 times, while the final coupon rate was set at 3.9%.
The issue has an Ag rating from Hong Kong-based China Chengxin (Asia Pacific) Credit Ratings Company Limited (CCXAP).
China Galaxy International, China International Capital Corporation (CICC) and CITIC Securities acted as global underwriters for the debut dim sum bond issuance. Fosun International Securities and Orient Securities (Hong Kong) served as joint arrangers.
According to the bank, the transaction attracted interest from investors in Asia and Europe, the Middle East and Africa (EMEA), giving the EDB access to a new source of yuan liquidity in addition to its existing credit lines from Chinese banks.
The proceeds will be used to finance the construction of a border crossing and railway line on the Kazakhstan-China border, as well as other projects in Kazakhstan involving Chinese participation, including Chinese contractors, suppliers, investors, sponsors or co-founders.
EDB Chairman of the Management Board Nikolai Podguzov said the debut issuance was an important milestone for the bank.
“The debut dim sum bond transaction is an important event for the EDB. It strengthens the Bank's position in Asian capital markets, broadens its investor base and creates an additional source of yuan funding for projects that promote economic cooperation and connectivity between Eurasia and China, including the Belt and Road Initiative,” he said.
In August 2026, China Chengxin's rating group assigned the EDB investment-grade credit ratings. CCXAP, a Hong Kong-based agency, assigned the bank an Ag long-term rating with a stable outlook for the first time. Meanwhile, Chinese rating agency China Chengxin International (CCXI) upgraded the EDB's global-scale rating to Ag from A-g and affirmed its AAA rating on the domestic scale.
The EDB is a multilateral development bank that invests across Eurasia. Over the past 20 years, it has supported stronger economic ties and comprehensive development among its member countries.
As of the end of June 2026, the bank's cumulative portfolio comprised 348 projects with total investments of $22.1 billion. Its portfolio is primarily focused on projects with an integration effect in transport infrastructure, digital systems, renewable energy, agriculture, industry and mechanical engineering.
The bank's activities are guided by the United Nations Sustainable Development Goals and environmental, social and governance (ESG) principles. Under its 2022-2026 strategy, the EDB is implementing three megaprojects: the Central Asia Water and Energy Complex, the Eurasian Transport Framework and the Eurasian Commodity Distribution Network.