CCB Frankfurt mandates for RMB bond

renminbi_euros_230px
By Carrie Hong, Isabella Zhong
15 May 2014

China Construction Bank has mandated banks for a renminbi-denominated bond via its Frankfurt branch next week in a deal that will be the first Frankfurt-issued CNH bond from a subsidiary of a Chinese name — and is only the third Frankfurt-listed RMB bond.

Joint bookrunners are CCB International Capital, BNP Paribas, Commerzbank and HSBC.

As with Bank of China Luxembourg’s pioneering CNH deal on May 8 (see globalcapital.com/Asia), CCB Frankfurt Branch’s proposed two year offshore bond is targeting the growing demand for offshore renminbi in the eurozone. Bankers working on the deal ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial