Dim-sum bond sale
Source: Xinhua |
July 20, 2012, Friday
|
Print Edition
Print Edition
THE Export-Import Bank of Korea, South Korea's state-run trade bank, said yesterday it has raised 1.75 billion yuan (US$280 million) through dim-sum bond sales in Hong Kong.
The fixed-rate yuan-denominated bonds with a maturity of three years were priced to yield 3.25 percent, according to an e-mailed statement. The yield was changed into 139 basis points more than the three-month Libor after swapping yuan into the US dollar.
Dim-sum bonds are denominated in yuan and issued in Hong Kong by foreign entities. The bonds are attractive to foreign investors who want exposure to yuan-denominated assets.
The issuance was the largest ever issued by any South Korean firm, the bank said. The yield was more than 10 basis points lower than the one priced in the US dollar funding market.
The fixed-rate yuan-denominated bonds with a maturity of three years were priced to yield 3.25 percent, according to an e-mailed statement. The yield was changed into 139 basis points more than the three-month Libor after swapping yuan into the US dollar.
Dim-sum bonds are denominated in yuan and issued in Hong Kong by foreign entities. The bonds are attractive to foreign investors who want exposure to yuan-denominated assets.
The issuance was the largest ever issued by any South Korean firm, the bank said. The yield was more than 10 basis points lower than the one priced in the US dollar funding market.
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