German bank scores
By Hu Xiaocen |
June 6, 2013, Thursday
|
Print Edition
Print Edition
DEUTSCHE Bank has raised 1.1 billion yuan (US$178 million) from its first yuan-denominated bond offering in Taiwan as it taps cheap yuan funding opportunities and retail investors' need for yuan assets on the island.
The bond is spread across two tranches - a three-year bond at 2.45 percent and a five-year callable bond at 2.65 percent, the German lender said in a statement yesterday.
The bond is listed on the Gre Tai exchange in Taiwan to allow local retail investors to purchase it directly, the bank said.
"This transaction reflects the strong demand for yuan assets in Taiwan, and points to significant potential for the growth of this market," said Cynthia Chan, head of global markets for Taiwan at Deutsche Bank.
The bond is spread across two tranches - a three-year bond at 2.45 percent and a five-year callable bond at 2.65 percent, the German lender said in a statement yesterday.
The bond is listed on the Gre Tai exchange in Taiwan to allow local retail investors to purchase it directly, the bank said.
"This transaction reflects the strong demand for yuan assets in Taiwan, and points to significant potential for the growth of this market," said Cynthia Chan, head of global markets for Taiwan at Deutsche Bank.
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