The first Formosa bonds issued by Chinese companies are set to begin trading on December 10, giving Taiwan’s bond market a boost and setting a precedent for other mainland issuers.
Bank of Communications Hong Kong and Agricultural Bank of China Hong Kong last week priced a total Rmb2.7 billion $443 million in dual-tranche notes issued in Taiwan, the first such sale after the island authorities last week lifted a ban on mainland Chinese issues of Formosa bonds.
More issuers, including China Development Bank and Bank of China, are expected to follow suit.
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