Westpac dim sum opens offshore renminbi supply

By Addison Gong
09 Jan 2018

Westpac Banking Corp raised Rmb500m ($77m) from a three year offshore renminbi bond on Monday, becoming the first dim sum note issuer of 2018.

Its transaction came less than three months after Australian peer, Aa3/AA-/AA- rated Commonwealth Bank of Australia, sold a Rmb1.5bn 4.2% three year in October. That deal, together with Bank of China Johannesburg branch’s Rmb1.5bn 4.88% 2020 Belt and Road bond, ranked jointly as the largest dim sum ...

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