Issuances for offshore Rmb bonds now exceed Rmb1 trillion -- transitioning from a policy ambition to a commercial solution in less than two decades. Christopher Chu examines the trend, which started in 2007, as part of FA’s 30th anniversary coverage.
The buoyancy in the sector is being driven by multiple factors, including regulatory shifts, policy support, and debt capital market activity in the city.
Final orders were over S$2bn allowing UOB to upsize from its original S$500m benchmark; there was participation from 96 investors with 26% outside of Singapore.
The digital bank, which has operations in China, Hong Kong and Indonesia, is looking at M&A opportunities and developing artificial intelligence agents, with the debt and equity fundraise.