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China: special bond
London-based magic circle firm Linklaters has advised China's Ministry of Finance of on its RMB 23 billion ($3.65bn) sovereign bond offering in Hong Kong. The offering is by far the largest-ever offshore RMB bond transaction.
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Linklaters’ capital markets partner William Liu, who led the team, commented: ‘This is the fourth offshore RMB sovereign bond transaction by [the] Ministry of Finance. This marks the first time arrangements were made for the special placement of the RMB sovereign bonds to foreign central banks, which serves as a showcase for issuing bonds to overseas investors in the future and is a step towards the internationalisation of the RMB.’
