China Financial Services breaks dim sum lull

The first deal after Chinese New Year indicates a difficult start for the offshore renminbi bond market in the year of the goat.

China Financial Services breaks dim sum lull

China Financial Services has raised Rmb300 million $49 million through its first renminbi-denominated bond in Hong Kong.

CFS, a Hong Kong-listed financial service provider in northern China for small and medium-sized enterprises, priced the three-year note at a yield of 6.75%, the same as the guidance.

The deal is the first dim sum insurance since the Chinese New Year and will test the renminbi bond market as issuance has been quiet....

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