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WB to issue first yuan bond worth US$75.4m
By Wang Yanlin |
January 5, 2011, Wednesday
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Online Edition
Online Edition
THE World Bank announced today to issue its first yuan-denominated bond, hoping to diversify investors' currency holdings and expand the exposure of the Chinese yuan.
The 500-million-yuan (US$75.4 million) two-year fixed-rate note, due on January 14 of 2013, offers investors a semi-annual coupon of 0.95 percent. It is the first yuan bond issuance this year in the capital markets of Hong Kong, and the World Bank's first yuan bond ever, the bank said in a statement.
Also, China's shareholding in the World Bank is set to increase as part of the realignment of voting shares announced last April. If the realignment is approved and subscribed as proposed, China would become the third-largest shareholder in the World Bank after the United States and Japan.
The entry of the World Bank into the yuan bond market in Hong Kong will permit investors to diversify their currency holdings and expand their yuan exposure, the Washington D.C.-based bank said.
It added the World Bank's global reputation should also help attract the attention of many international investors who have not previously invested in yuan to this rapidly developing market.
The 500-million-yuan (US$75.4 million) two-year fixed-rate note, due on January 14 of 2013, offers investors a semi-annual coupon of 0.95 percent. It is the first yuan bond issuance this year in the capital markets of Hong Kong, and the World Bank's first yuan bond ever, the bank said in a statement.
Also, China's shareholding in the World Bank is set to increase as part of the realignment of voting shares announced last April. If the realignment is approved and subscribed as proposed, China would become the third-largest shareholder in the World Bank after the United States and Japan.
The entry of the World Bank into the yuan bond market in Hong Kong will permit investors to diversify their currency holdings and expand their yuan exposure, the Washington D.C.-based bank said.
It added the World Bank's global reputation should also help attract the attention of many international investors who have not previously invested in yuan to this rapidly developing market.
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