Bank of China’s sterling solution to fund woes

07 Jun 2012

Bank of China was able to print the largest ever piece of sterling-denominated commercial paper from a bank in an emerging ECP market this week, as money market funds looked beyond Europe to find investable credits.

The issuer’s £142m three month clip, sold on Wednesday, beats its own record for a sterling placement of £100m in March, according to Dealogic.

Other banks in emerging Asian markets have opted for CP as a funding route this year. They have increased CP volume dramatically this year, with ...

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