HSBC plays key roles in China's record Renminbi Sovereign Bond issuance in Hong Kong


29 Jun 2012

China's Ministry of Finance has issued the largest ever sovereign bonds denominated in renminbi (RMB) in Hong Kong. The fourth offshore RMB sovereign bonds launched in Hong Kong, worth a record RMB23 billion, were the first batch to be listed on the Hong Kong Stock Exchange's securities market.

HSBC acted as the Joint Coordinator, Joint Lead Manager, Joint Bookrunner and the Placing Bank for the retail tranche.

Chief Executive of HSBC Hong Kong, Anita Fung, officiated at the launch ceremony which was also attended by senior Chinese and Hong Kong Special Administrative Region officials.

The inaugural offer of offshore RMB bonds of up to 15-year tenor for institutional investors is expected to help set the benchmark yield for long-term RMB bonds in Hong Kong. It also marked the first time a special placement of the RMB sovereign bonds to overseas Central Banks was arranged, which served as a showcase for issuing bonds to overseas investors in the future. The listing of RMB sovereign bonds was also considered to be conducive to developing the bond market in Hong Kong and encourage listing of more bonds in Hong Kong.

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