Uni-President references two in new step for offshore Rmb loans

Uni-President China, the subsidiary of a Taiwanese food company, is making history in the offshore renminbi market by becoming the first borrower to reference its pricing to more than one bank’s offered rate. But most loans bankers think there is little chance of any deal referencing the eight-bank CNH Hibor rate before the end of the year.

  • 08 May 2012
There have only been a handful of offshore renminbi loans so far, and they have all referenced the offer rate of a single bank. But for its planned Rmb600m ($95mm) deal, Uni-President will pay a margin of 150bp over the average of the offshore renminbi rates offered by ...

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