World Bank floats in Hong Kong dollars for the first time since 2009

Hong Kong Fotolia
By Frank Jackman
29 Jul 2019

The World Bank placed its first Hong Kong dollar deal of its 2019/2020 funding year last week. The supranational chose to link the private placement to the Hibor benchmark, a now little seen structure that was likely the result of a "very specific enquiry", according to one MTN banker away from the deal.

While it has been a regular issuer of fixed rate Hong Kong dollar debt, the World Bank last issued a Hibor linked note in June 2009, according to Dealogic.

Since anti-extradition bill protests begun in March, issuers have capitalised on the unrest to place Hong Kong dollar paper. Earlier ...

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