Diverging Dim Sum fortunes suggest way forward

April 23, 2015 9:15 AM

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HONG KONG, April 23 (IFR) - A pair of Chinese issuers have highlighted the difficulties facing the offshore renminbi bond market, as well as a possible way forward for companies looking to offer Dim Sum bonds.

On Tuesday, China Energy Reserve and Chemicals Group printed a seven-year HK$2bn (US$259m) bond yielding 6.3%. The company had been trying to sell notes in offshore renminbi since early March, but when this became impractical, it resorted to a quasi-private placement in another currency.

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