ANZ widens dim sum market with Basel III landmark

First ever Basel III-compliant renminbi bond from a foreign company reinforces Hong Kong as the premier offshore hub.

ANZ widens dim sum market with Basel III landmark

ANZ has issued the first ever Basel III-compliant renminbi bond from a foreign company, reinforcing Hong Kong as the premier offshore hub as mainland China comes off a difficult week.

The Australian bank’s Rmb2.5 billion $400 million tier-2 subordinated note in Hong Kong a 10-year non-call five tier-2 bond at a yield of 4.75% sets the stage for more such Basel III instruments.

It was priced late on Wednesday night, in...

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