Foreign Lenders Apply to Underwrite Bonds
Source: Bloomberg News |
June 16, 2011, Thursday
|
Print Edition
Print Edition
HSBC Holdings Plc and Citigroup Inc are among several foreign banks that have applied to underwrite a wider range of yuan-denominated corporate bonds in China, a person familiar with the situation said yesterday.
No time frame has been set for approval of the applications, said the person, who asked not to be identified as he wasn't authorized to speak to media. He declined to identify the other banks that have applied.
Stephen Thomas, a Shanghai-based spokesman for Citigroup, declined to comment. Anthony Lin, a spokesman for HSBC in Shanghai, said he couldn't comment.
The National Association of Financial Market Institutional Investors, regulator of China's interbank bond market, said last August that it may allow foreign banks to underwrite a wider range of debt.
No time frame has been set for approval of the applications, said the person, who asked not to be identified as he wasn't authorized to speak to media. He declined to identify the other banks that have applied.
Stephen Thomas, a Shanghai-based spokesman for Citigroup, declined to comment. Anthony Lin, a spokesman for HSBC in Shanghai, said he couldn't comment.
The National Association of Financial Market Institutional Investors, regulator of China's interbank bond market, said last August that it may allow foreign banks to underwrite a wider range of debt.
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