McDonald's sells renminbi take-away

China's currency takes a further step towards internationalisation with the first renminbi-denominated bond issued by a multi-national company in Hong Kong.

As signals go, how could it be bettered It’s hard to see how China could choose a more appropriate and iconic borrower to pave the way for further internationalisation of its currency.

Yesterday, McDonald's Corporation the fast-food and burger joint -- became the first multi-national non-financial corporate to issue a renminbi-denominated bond in Hong Kong. The Rmb200 million $29.5 million deal, although small, promises to open up a new funding venue for international companies to raise working capital for...

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