02/05/2012 The London Stock Exchange Group welcomes first RMB-Denominated Retail Bond to Order book for Retail Bonds
London Stock Exchange Group (LSE Group) today welcomes its first Renminbi-denominated bond to the Order book for Retail Bonds (ORB). The HSBC bond, which raised RMB 2 billion (£196 million) at issue, is the first non-Sterling denominated bond open for on-exchange trading by private investors.
Available in denominations of RMB 10,000 (£980), and paying an annual coupon of 2.875 per cent, this is the first product in ORB’s dedicated segment for international bond issues. HSBC will act as liquidity provider and are currently providing transparent on-screen prices.
To mark this significant issue, Samir Assaf, CEO at HSBC Global Banking and Markets, today joined Doug Webb, CFO at LSE Group, in opening trading in London.
Doug Webb, CFO at LSE Group, said:
“This is a first for private investors accessing our markets. HSBC’s RMB-denominated bond offers investors simple and transparent access to a new non-Sterling debt product. We hope this will be the first of many international issues, reinforcing London’s pre-eminent role as a centre for international business.”
Samir Assaf, CEO of HSBC Global Banking and Markets business, said:
“We are delighted to bring this issue to the secondary market, giving investors the opportunity to trade a RMB-denominated security as the currency continues to internationalise. This deal gives a glimpse of the strong potential for international RMB bond issues to be traded on European exchanges.”
ORB is LSE Group’s electronic market for trading in corporate and government bonds, built specifically to serve the needs of private investors. It is a regulated, transparent platform offering continuous two-way prices in over 150 securities, in typical denominations of £1,000 or less. Investors can access the platform via their broker.