The dim sum bonds listed in Frankfurt by KfW, a first for continental Europe’s finance capital, are a further step in promoting the region as an important market for the currency.
KfW, the German state-owned development bank, raised Rmb1 billion $162 million on Tuesday by issuing renminbi-denominated bonds in Hong Kong. The bond, with a maturity of 2 years, was priced at 1.375%.
The bonds are expected to increase further the exposure of the Chinese currency to investors across Europe, complementing London the other emerging hub in the region for renminbi trading.
KfW’s notes...
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