World Bank leads 2011 offshore renminbi charge
The World Bank priced its debut offshore Chinese renminbi MTN on Tuesday, a Rmb500m three year bullet with a coupon of 0.95% through HSBC. The deal is one of the first offshore renminbi MTNs to be swapped back into another currency, and dealers and issuers are enthusiastic about this nascent market. What’s the attraction of issuing in the currency, and what are the obstacles? Read EuroWeek on Friday to find out.
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