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China: World Bank Issues Its First Yuan Bond |
| Source: |
web.worldbank.org |
| Source Date: |
Wednesday, January 05, 2011 |
| Focus: |
Electronic and Mobile Government, Citizen Engagement, Internet Governance
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| Country: |
China |
| Created: |
Jan 11, 2011 |
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“The World Bank issued its first bond denominated in the Chinese yuan, borrowing 500 million yuan ($75.9 million) over two years. The triple-A-rated World Bank said in a statement that the decision to borrow in the Chinese currency signals its strong interest in supporting the growth of the yuan market. …” [The Wall Street Journal/Factiva]
AFP notes that “…The move will ‘further deepen the market and permit investors to diversify their currency holdings and expand renminbi exposure’, the World Bank said in a statement, using the official name for the Chinese unit. Last month, China said its second yuan-denominated bond issue in Hong Kong had initially raised five billion yuan, with plans for another three billion yuan to be sold. …” [Agence France Presse/Factiva]
Reuters reports that “…The World Bank said in a statement on Wednesday the International Bank for Reconstruction and Development, its low-interest lending arm, had priced the two-year paper at 0.95 percent, representing the lowest yield so far on same-maturity dim sum bonds …
The World Bank's 500 million yuan bond issue arrived when China's shareholding in the World Bank is about to increase, potentially making China the third-largest stakeholder in the lender after the United States and Japan.
‘This is a landmark transaction for the World Bank as it is the first World Bank issuance in RMB, and signals the strong interest of the World Bank in supporting the development of the RMB market,’ Doris Herrera-Pol, Global Head of Capital Markets at the World Bank, said in a statement. …” [Reuters/Factiva]
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China: World Bank Issues Its First Yuan Bond “The World Bank issued its first bond denominated in the Chinese yuan borrowing 500 million yuan 75.9 million over two years The triple-A-rated World Bank said in a statement that the decision to borrow in the Chinese currency signals its strong interest in supporting the growth of the yuan market …” The Wall Street Journal/Factiva
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