Opinion: Offshore renminbi bond mart maturing
The fledging offshore renminbi bond market has hit a purple patch. With relative unknown issuers pricing in very tight deals and innovation coming with every trade, it’s an exciting time to be involved. But the fervour in the market also raises questions about sustainability.
The offshore renminbi bond market has enjoyed a transformative few weeks. Since July, the market has evolved steadily in size, reach and diversity, but it has really been in December the leap towards maturity was made.
When an unrated issuer whose only rated affiliate is ranked single B can
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