First dim sum bond for German company

    June 02, 2011 | BY

    clpstaff &clp articles

    Volkswagen International Finance has issued Rmb bonds, the first bond issued in renminbi by a German company. The bonds, at 2.15%, raised Rmb1.5 billion…

    Volkswagen International Finance has issued Rmb bonds, the first bond issued in renminbi by a German company. The bonds, at 2.15%, raised Rmb1.5 billion (US$231.5 million) and are due 2016.

    The joint lead managers and bookrunners were Bank of China, HSBC and Standard Chartered Bank.

    A Hong Kong-based Clifford Chance team, led by Matt Fairclough and Connie Heng, acted for the underwriters.

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