HSBC prices international RMB bond

The transaction, set at a 3% revenue, saw very strong demand from both European and Asian investors.

According to the release from HSBC, the RMB 2 bn senior unsecured bond was priced with a yield of 3% and the transaction closed with a book size in excess of two times the issue size. The transaction saw very strong demand from both European and Asian investors with over half of the allocation going into European accounts.

Spencer Lake, Co-head of Global Markets at HSBC said: “We are delighted to have priced this trade which shows the bank’s commitment to broadening the RMB investor base. We are confident that this will open the market to other European and non-European issuers looking to fund themselves internationally in RMB and help contribute to this rapidly developing market.”