Arab Today, arab today britain\s tesco plans \dim sum\ bond issue
Last Updated : GMT 12:05:30
Arab Today, arab today
Arab Today, arab today

Britain\'s Tesco plans \'dim sum\' bond issue

Arab Today, arab today

Arab Today, arab today Britain\'s Tesco plans \'dim sum\' bond issue

London - AFP

Britain's biggest retailer Tesco is planning its first offshore yuan-denominated bond issue in Hong Kong, a report said Thursday, seeking to raise over US$100 million. The world's third largest supermarket group by sales is the latest to join a slew of foreign firms that are aiming to tap the so-called "dim sum bond market" as China tries to turn the yuan into an international currency. Tesco will use the net proceeds from the 725 million yuan (US$113 million) three-year offering for general corporate purposes, according to Dow Jones Newswires, citing a draft prospectus of the Hong Kong issue. The report said the hypermarket chain's yuan bond issue was part of a £15 billion (US$25 billion) eurobond programme. It has hired HSBC and Standard Chartered as joint bookrunners for the issue in the Asian financial hub. Tesco oficials in Shanghai could not immediately be reached for comment. The bid signals the rising interest in yuan funding among foreign firms, after US fast-food giant McDonald's raised US$30 million from its bond issue in Hong Kong last year. It is reportedly planning a second offering. Heavy equipment maker Caterpillar followed suit while budget carrier Hong Kong Airlines reportedly said in May that it was also planning a similar issue. Yuan-related financial products have been booming in Hong Kong, a semi-autonomous Chinese territory that has been acting as a test bed for Beijing's ambitious goal to make the unit a global currency. Tesco is the world's third-largest retailer after US-based Wal-Mart and France's Carrefour, both of which have important operations in a booming China where a growing middle class provides a market for Western style shopping. The British group operates about 100 hypermarkets and malls in China, and said earlier this year that it will set up a joint venture with Asian investors to develop shopping malls in China.

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 britain\s tesco plans \dim sum\ bond issue Arab Today, arab today britain\s tesco plans \dim sum\ bond issue

 



Arab Today, arab today
Arab Today, arab today Prepares to present her new collection

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today 11 family members dead in rebel push

GMT 07:57 2017 Tuesday ,21 February

11 family members dead in rebel push
Arab Today, arab today To probe sexual harassment claims

GMT 10:08 2017 Tuesday ,21 February

To probe sexual harassment claims

GMT 14:57 2017 Monday ,20 February

A giant initial public offering on track

GMT 14:50 2017 Monday ,20 February

Energy Market Research

GMT 09:38 2017 Monday ,20 February

Japan returns to trade deficit in January

GMT 07:16 2017 Monday ,20 February

Global arms trade highest since Cold War

GMT 06:10 2017 Monday ,20 February

Tourism shows signs of recovery in Egypt

GMT 05:45 2017 Monday ,20 February

Brexit U-turn ruled out by many in EU
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Kidogo provides childcare for underserved

GMT 20:24 2017 Wednesday ,15 February

Kidogo provides childcare for underserved
Arab Today, arab today Tragic fluctuations of Bakhtiari's life revealed

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Ahmed Fahmy stresses he did not ignore singing

GMT 06:34 2017 Sunday ,19 February

Ahmed Fahmy stresses he did not ignore singing
Arab Today, arab today Teach monkeys to recognize themselves in mirror

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 21:11 2017 Saturday ,18 February

Egypt to hold first session of Arab film festival

GMT 06:40 2017 Friday ,10 February

MP calls for removing text from Islamic story

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women

GMT 10:26 2017 Tuesday ,14 February

Emergency UN meeting in Harare

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 14:51 2017 Monday ,20 February

Ways to acquire presentation skills

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 13:16 2017 Tuesday ,14 February

First fashion model with Down syndrome
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