“The trend of internationalisation of RMB bond market remains intact” – Chin Chin Koh, UOB
UOB China returned to the onshore bond market last week to tap its offer of ample liquidity and low yield.
JaneWalter
August 30, 2022
Last week August 24, United Overseas Bank UOB China successfully priced a senior unsecured RMB 1 billion USD 146.04 million issuance in the China Interbank Bond Market CIBM, under the Bond Connect scheme.
The issuance marked the fourth time that the Singapore-headquartered bank had tapped the Yuan-denominated market, following its debut onshore financial issuance in 2018, its first Panda bond issuance in 2019, and a UOB China Tier 2 bond in the same year.
With a three-year tenor and a coupon rate of 2.88% equivalent to 50 bps over the corresponding China Development Bank bond reference yield, the issuance achieved the lowest ever absolute...
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