Hopewell Highway pioneers offshore renminbi bonds

A Hong Kong company that builds toll roads in China has become the first company to market renminbi bonds to international investors.

Hopewell Highway Infrastructure is set to become the first company to sell bonds denominated in renminbi to international investors. The Hong Kong-based toll road company will start marketing the bonds today and will use the proceeds to help finance the construction of a project in China's Pearl River delta region.

The deal marks another important step in China's internationalisation of its currency and was made possible after Chinese regulators relaxed the rules on cross-border renminbi flows on June 17.

Hopewell Highway has moved quickly to be the first to market corporate renminbi bonds and said yesterday that the funds will be used to finance the third phase of its Western Delta Route, a highway project...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222