Arab Today, arab today china bank to sell yuan bonds first in south korea in nonresident capacity
Last Updated : GMT 07:44:27
Arab Today, arab today
Arab Today, arab today

China bank to sell yuan bonds first in South Korea in non-resident capacity

Arab Today, arab today

Arab Today, arab today China bank to sell yuan bonds first in South Korea in non-resident capacity

China bank
Seoul - XINHUA

The Industrial and Commercial Bank of China (ICBC), the country's largest bank, plans to sell the Chinese yuan-denominated bonds in South Korea Tuesday for the first time in a non-resident capacity, the bank's Seoul branch said Monday.
ICBC Asia, the bank's Hong Kong branch, will issue the two-year Chinese currency bonds worth 180 million yuan (about 31.3 billion won or 29.2 million U.S. dollars) here on Oct. 14 at a coupon rate of 3.7 percent.
The Chinese bank would become the first foreign lender to float yuan bonds here in the capacity of non-resident.
"It has a significant meaning as a non-resident sells yuan bonds for the first time," an official at the South Korean finance ministry said over the phone, noting that the ministry is paying much attention to the issuance.
The official said Seoul is mulling various tools to induce foreign players to sell yuan bonds here, adding that yuan debt sales are anticipated to keep increasing over time.
The ICBC plan came after Chinese President Xi Jinping and his South Korean counterpart Park Geun-hye agreed during their July summit meeting in Seoul to boost yuan debt sales in South Korea.
Woori Bank, one of South Korea's leading banks, issued 200 million yuan of the two-year Chinese currency bonds in South Korea on Oct. 10, the first issuance by local players.
The bond's coupon rate was 3.87 percent, higher than the ICBC rate of 3.7 percent. It means the ICBC would pay less borrowing costs.
The ICBC named KDB Daewoo Securities as an arranger for the yuan bond issuance, and it will serve as a clearing bank for the sale.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today china bank to sell yuan bonds first in south korea in nonresident capacity Arab Today, arab today china bank to sell yuan bonds first in south korea in nonresident capacity

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today china bank to sell yuan bonds first in south korea in nonresident capacity Arab Today, arab today china bank to sell yuan bonds first in south korea in nonresident capacity

 



Arab Today, arab today
Arab Today, arab today Designer Aql Faqih aspires to innovation

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation
Arab Today, arab today Italy regions back 'big bang' autonomy

GMT 07:10 2017 Monday ,23 October

Italy regions back 'big bang' autonomy
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Iraq's Barzani isolated by his drive

GMT 04:36 2017 Tuesday ,24 October

Iraq's Barzani isolated by his drive
Arab Today, arab today Maltese demand justice for murdered

GMT 06:08 2017 Monday ,23 October

Maltese demand justice for murdered
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today World's deepest lake in peril

GMT 15:54 2017 Friday ,20 October

World's deepest lake in peril
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Lost Australia diver swam miles

GMT 19:09 2017 Monday ,23 October

Lost Australia diver swam miles
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today EU targets German carmakers

GMT 05:41 2017 Tuesday ,24 October

EU targets German carmakers
Arab Today, arab today Tesla to build wholly-owned plant

GMT 07:55 2017 Monday ,23 October

Tesla to build wholly-owned plant
Arab Today, arab today Sherine Reda frustrated of latest terrorist attacks

GMT 09:03 2017 Monday ,23 October

Sherine Reda frustrated of latest terrorist attacks
Arab Today, arab today Delhi braces for pollution 'airpocalypse'

GMT 16:07 2017 Friday ,20 October

Delhi braces for pollution 'airpocalypse'

GMT 08:12 2017 Saturday ,21 October

Donia Abdel Aziz aspires to return to cinema

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 06:07 2017 Sunday ,22 October

15,000 Under Fives Die

GMT 12:54 2017 Saturday ,21 October

Malaysia Airlines picks new CEO

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 05:54 2017 Tuesday ,24 October

Second Palestinian mobile provider enters Gaza

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday