Caterpillar sells HK Rmb bond, China lines up
Building equipment company Caterpillar became the latest foreign company to sell Hong Kong renminbi bonds, raising Rmb1bn ($150.5m) this week only days after China’s ministry of finance announced a plan to return to the market.
Caterpillars deal is the latest sign of development in the frenetic offshore renminbi bond market, and makes it the second multinational corporation after McDonalds Corp to be allowed to issue in the market.
Sole arranger Goldman Sachs took funding officials from the country to meet investors in Hong Kong
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