Bond issue: Pedestrians pass a HSBC bank, operated by HSBC Holdings Plc, in Guildford. The bank will sell up to 1 billion yuan in panda bonds to use for among others, expansion of banking operations. – Bloomberg
SHANGHAI: Hong Kong and Shanghai Banking Corporation (HSBC) said it will sell up to 1 billion yuan (US$156.73 million) of three-year, renminbi-denominated “panda bonds” in China's interbank bond market on Sept. 29, the first foreign bank to issue such bonds in the country.
China's central bank is drafting new rules for yuan-denominated bonds sold by foreigners on the mainland, and plans to let more companies issue them and ease controls on how proceeds can be used, Reuters reported earlier in the day.
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