HSBC, Bank of China (HK) given permission to issue bonds in China's interbank market

Carmen Century Investment

22/09/2015 11:51

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    BEIJING, Sept 22 (Reuters) - China's central bank will allow 
HSBC Holdings plc and Bank of China (HK) to issue 
yuan-denominated bonds in China's interbank market, it said in a 
statement on Tuesday, the first time offshore commercial banks 
have been permitted to issue local-currency debt in the domestic 
market. 
    HSBC will be allowed to issue 1 billion yuan  ($156.86 
million) of bonds, while the Hong Kong branch of Bank of China 
will be permitted to issue 10 billion yuan ($1.57 billion) of 
debt, according to the statement. 
    In 2005, the IFC launched a Panda bond issue in the Chinese 
domestic market worth 1.13 billion yuan ($177.25 million), 
becoming the first foreign issuer in the domestic market along 
with the Asian Development Bank.  
 
($1 = 6.3750 Chinese yuan renminbi) 
 
 (Reporting by Judy Hua and Kevin Yao; Editing by Shri 
Navaratnam) 
 ((Nicholas.Heath@thomsonreuters.com; +86 10 6627 1277;)) 
 
Keywords: CHINA DEBT/OFFSHORE