UK’s RMB debut sets scene for further sovereign RMB issuance

London parliament px230 for gc
By Tessa Wilkie
16 Oct 2014

The high level of demand for the UK’s debut offshore renminbi bond this week, the first from a non-Chinese sovereign, will be encouraging for other countries looking at printing in the internationalising currency. Two more are thought to be looking at selling renminbi bonds.

“The UK’s offshore renminbi deal this week, the first of its kind, has proved to be an extremely interesting and successful pilot,” said Bryan Pascoe, global head of debt capital markets at HSBC in London, which led the deal alongside Bank of China and Standard Chartered. “The currency ...

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