BoCom and Agricultural Bank find favour in RMB Formosas

By Lorraine Cushnie
06 Dec 2013

Bank of Communications and Agricultural Bank of China priced debut offshore renminbi bonds in Taiwan on November 29, just days after new regulations opened up the market to mainland issuers.

BoCom issued a Rmb800m ($131m) three year bond paying 3.4% and a Rmb400m five year paying 3.7%, both in line with guidance. HSBC was the sole bookrunner.

Meanwhile, ABC priced a Rmb1.25bn three year deal at 3.3% and a Rmb250m five year at 3.6% via sole lead Chinatrust. ...

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