debut-nondeliverable-renminbi-interest-rate-swap-completed

Debut non-deliverable renminbi interest rate swap completed

HSBC and Standard Chartered conduct a Rmb100 million three-year fixed rate non-deliverable interest rate swap transaction.
August 16, 2006
HSBC and Standard Chartered completed the first ever renminbi non-deliverable interest rate swap transaction yesterday August 16. The new structure will create an important hedging tool for investors and corporates in China.

The Rmb100 million transaction has a three-year tenor. The deal pays a fixed rate at 3.09%. Nittan Capital Asia acted as broker on the deal.

The non-deliverable renminbi interest rate swap was developed to help corporate clients and financial institutions hedge their interest rate exposure in the Chinese currency.

ôThe renminbi non-deliverable interest rate swap has been developed by the Treasury Markets Association TMA to match the needs of the market, since various investors and corporates have interest rate exposure in China...
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