What's next for China's offshore renminbi market

April 11, 2013 | BY

clpstaff

The landmark three-year bond from China Minmetals last month highlights China's developing offshore renminbi market, but SOEs still have to contend with strict registration requirements from SAFE

Chinese state-owned enterprise (SOE) China Minmetals last month issued the largest single-tranche offshore renminbi bond among state-approved issuers. Here's how these issuances have evolved since Baosteel's first offshore renminbi bond.

The Rmb2.5 billion three-year bond, issued under Regulation S, priced at 3.65% on 21 March. It represents the company's first bond in the global markets.

But it also signals the development in the Chinese offshore renminbi markets as investors become more comfortable with offerings by Chinese SOEs.

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