Greater China
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US fast food company Yum Brands met investors this week ahead of a potential offshore renminbi bond, adding to a growing supply of foreign companies considering making their debuts in the market.
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French gas producer Air Liquide closed an Rmb850m ($133m) seven year bond late last week, getting reverse enquiry demand from investors after it sold a larger five year issue in the public market.
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Japan’s automaker Nissan Motor has mandated two banks to handle a potential dim sum bond deal. HSBC and Standard Chartered are taking the company to meet with investors in Hong Kong and Singapore next week.
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China needs to deliver greater clarity over how renminbi raised in Hong Kong can be moved onshore, says a financial official at a company that has raised money in the currency offshore.
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US fast food company Yum! Brands is meeting investors this week ahead of a potential offshore renminbi bond, adding to a growing supply of foreign companies considering making their debuts in the market.
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French gas producer Air Liquide closed a Rmb850m ($133m) seven year bond late last week, getting reverse enquiry demand from investors after it sold a larger five year issue in the public market.
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Taiwan’s Advanced Semiconductor Engineering made its debut in the offshore renminbi bond market last week, selling a dual-tranche deal that got a lot of demand from Taiwanese corporations — and capped a busy week in a market that has become something of a haven for battered bankers and investors.
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Various foreign borrowers are tapping the offshore renminbi bonds in Hong Kong this week, adding needed-variety to the city’s offshore renminbi bond market.
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The UK capital intends to become the next offshore renminbi centre and some observers feel that it could beat Singapore to this goal, although approval could be some way away.
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Asiamoney PLUS provides a quick overview of what it means to set up an offshore renminbi trading centre, following news about the City of London’s ambitions.