What's next for China's offshore renminbi market

| BY

clpstaff

The landmark three-year bond from China Minmetals last month highlights China's developing offshore renminbi market, but SOEs still have to contend with strict registration requirements from SAFE

Chinese state-owned enterprise (SOE) China Minmetals last month issued the largest single-tranche offshore renminbi bond among state-approved issuers. Here's how these issuances have evolved since Baosteel's first offshore renminbi bond.

The Rmb2.5 billion three-year bond, issued under Regulation S, priced at 3.65% on 21 March. It represents the company's first bond in the global markets.

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