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UK first foreign country to issue dim sum bonds

Published Fri, Oct 17, 2014 · 09:50 PM
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London

THE United Kingdom this week became the first foreign country to issue offshore renminbi bonds, with a smoothly executed offering that reflected the Chinese currency's growing global appeal and London's efforts to become the world's trading hub.

The RMB3 billion (US$490 million) Dim Sum offering drew demand of around RMB5.8 billion from 85 accounts, making it the largest renminbi bond to date from any non-Chinese issuer. Almost half the issue went to investors beyond Asia, underlining the growing global depth of the Dim Sum bond market.

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