China Central Bank Plans to Issue First Yuan Bond in London, Source Says
October 08 2015 - 6:56AM
Dow Jones News
By Fiona Law
HONG KONG--The People's Bank of China plans to issue up to five
billion yuan ($787 million) in yuan-denominated debt in London as
early as this month, a person familiar with the matter said
Thursday.
This marks the first time the Chinese central bank will issue a
yuan bond in London, in a bid analysts believe to broaden the
international use of the currency at a time Beijing is pushing for
the yuan to gain the elite status of a global reserve currency.
In the latest issuance plan, the PBOC is likely to sell the yuan
bonds with a one-year tenor or less, the person said, in a bid to
build an offshore yield curve for Chinese government bonds.
HSBC Holdings PLC and Industrial & Commercial Bank of China
Ltd. are arranging the bond sale, the person said.
The Chinese government has been mainly selling offshore yuan
debt in Hong Kong, the biggest hub for yuan trading outside
mainland China.
Write to Fiona Law at fiona.law@wsj.com
(END) Dow Jones Newswires
October 08, 2015 06:41 ET (10:41 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
Hsbc (LSE:HSBA)
Historical Stock Chart
From Mar 2024 to Apr 2024
Hsbc (LSE:HSBA)
Historical Stock Chart
From Apr 2023 to Apr 2024
