offshore renminbi bond

Shui On Land gathers more than Rmb17 billion of orders for its Rmb3.5 billion synthetic offshore renminbi bond -- its second tap of this market in just over a month.

Sinochem (Hong Kong) Group yesterday priced a Rmb3.5 billion three-year offshore renminbi bond at a yield of 1.8%.

A synthetic offshore renminbi bond could appeal to a number of property issuers that have difficulty remitting funds back to the mainland.

Property developer Shui On Land yesterday priced Rmb3 billion of three-year renminbi-denominated bonds. Investors piled into the deal, resulting in an impressive Rmb32 billion order book.