Rmb style: Fashion company E-Land signs offshore loan

E-Land Fashion China Holdings signed a rare offshore renminbi loan late last week, closing a Rmb144.5m tranche as part of a HK$333m ($42.9m) dual-currency financing package.

  • 08 Mar 2012
The company split the three year deal between a HK$155m tranche, and a Rmb144.5m facility — both paying margins of 350bp. But in a sign of the issues delaying the development of the offshore renminbi market, the renminbi margin was against HSBC’s own CNH Hibor posting. There is ...

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