ANZ Bank starts issuing renminbi bonds in HK

The issuance is the lender's first Hong Kong RMB offshore bonds oversubscribed 6 times.

Australia & New Zealand Banking Group Ltd, the third-largest lender in Australia, on Wednesday started floating RMB 200 million in RMB-denominated bonds in Hong Kong, and it is the first Australian bank to issue RMB offshore bonds, the Wall Street Journal reported.

The coupon rate for the two-year bonds is 1.45%, which may become a benchmark rate for non-Chinese issuers in the RMB offshore market. The deal will be closed on Dec. 24.

The lender said in a statement that the issuance is the bank's first RMB offshore bonds in Hong Kong, and has seen oversubscribed at six times. Subscribers, some from Singapore and Hong Kong, include asset management companies, banks, funds and private banking investors.

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