A planned Rmb1.5 billion renminbi-denominated bond issue by Maoye International suggests demand for dim sum bonds might not be dependent on the currency’s appreciation.
Maoye International, a Shenzhen-based department store operator in China, is looking to tap the offshore renminbi bond market for the first time.
Deal arrangers Citi and Deutsche Bank started a series of roadshow presentations to professional investors on Monday, according to sources familiar with the situation.
The Maoye deal comes after China Construction Bank Asia and China Eastern Airlines separately priced their Rmb4 billion two-year notes and Rmb2.5 billion three-year notes last week. The two deals received strong demand and...