Industrial and Commercial Bank of China has issueda total of Rmb4bn ($650m) of renminbi-denominatedbonds in Singapore and Taiwan, in the first case ofcross-border collaboration between the twooffshore markets for the Chinese currency.
中国工商银行(ICBC)在新加坡和台湾发行了总额为40亿元人民币(合6.5亿美元)的人民币计价债券,这是两个人民币离岸市场首次跨境协作。
Three tranches of “Lion City” bonds – a name oftenused for Singapore – were issued on Monday, one ofwhich was listed on SGX, the Singapore exchange,with the others dual-listed on SGX and the GreTai Securities Markets in Taipei.
3款“狮城债”(新加坡往往被称作狮城)在周一发行,其中一款在新加坡证交所(SGX)上市,另两款在新加坡证交所和台北的证券柜台买卖中心(GreTai Securities Markets)双重上市。
It was the biggest Lion City bond issue to date, eclipsing a Rmb2bn record set by ICBC,China’s largest lender, in 2013. The dual-listing of tranches is also the first of its kind for aChinese bank.
这是迄今最大规模的“狮城债”发行,打破了工行在2013年创出的20亿元人民币的发行纪录。这也是中资银行首次以双重上市的形式发债。工行是中国规模最大的银行。
Terence Chia, head of debt capital markets at ICBC’s Singapore branch, said that whileoffshore renminbi centres such as London, Singapore, Taiwan and Hong Kong wanted topromote their markets, there was scope for collaboration given investor demand for suchbonds.
工行新加坡分行债券资本市场主管特伦斯•谢(Terence Chia)表示,尽管伦敦、新加坡、台湾和香港等离岸人民币中心都想推动自己的市场,但鉴于投资者对此类债券需求强劲,协作仍有空间。
In Taiwan, this was coming from insurance companies wanting longer-dated paper. “Each ofthese centres wants to be recognised as renminbi centres but whether it’s a Formosa bond [inTaiwan], or ‘dim sum’ in Hong Kong or Lion City – they are all offshore bonds,” he said. “Ibelieve there is always room for collaboration between these centres so we can fullyinternationalise the currency.”
在台湾,这种需求来自希望得到较长期票据的保险公司。他说:“每个离岸中心都希望被看作是人民币中心,但无论是台湾的‘宝岛债’,还是香港的‘点心债’或‘狮城债’,都是离岸债券。我相信,这些中心始终有协作的空间,因此我们完全可以让人民币国际化。”
The ICBC Lion City bonds were priced in three tranches: Rmb2bn for two years at 3.5 per cent;Rmb700m for five years at 3.7 per cent; and Rmb1.3bn for seven years at 3.95 per cent.
工行发行的“狮城债”分为3款:20亿元人民币2年期债券、7亿元人民币5年期债券和13亿元人民币7年期债券,票面利率分别为3.5%、3.7%和3.95%。
The two-years will be listed on SGX while the five-years and seven-years will be dual-listed onSGX and in Taipei.
2年期债券将在新加坡证交所上市,5年期和7年期债券将在新加坡证交所和台北双重上市。
Since HSBC and Standard Chartered became the first banks to issue bonds denominated inrenminbi in May last year, renminbi issuance in Singapore has grown, led by Chinese banks.
自汇丰(HSBC)和渣打(Standard Chartered)去年5月成为发行人民币计价债券的首批银行以来,新加坡的人民币债券发行在中资银行的带领下有所增长。
The move highlights Singapore’s rapid maturing as an offshore centre for the mainland currencysince ICBC last year started clearing services for renminbi transactions in the city state.
此次“狮城债”的发行突显出,自工行去年在新加坡启动人民币交易清算服务以来,新加坡作为人民币离岸中心的地位迅速成熟。
Singapore, a tiny island nation of 5.4m people, is building itself up as the renminbi hub forsoutheast Asia, capitalising on its increasing use in intra-regional trade in the fast-growingeconomies of the Association of Southeast Asian Nations. About 55 per cent of Singapore’sexternal trade is intra-Asian, compared with about 20 per cent for Hong Kong.
新加坡是一个有540万人口的小岛国。东南亚国家联盟(ASEAN,简称“东盟”)快速发展的经济体在区域贸易中日益使用人民币结算,新加坡正利用由此带来的机会,将自己打造为东南亚的人民币中心。新加坡大约55%的对外贸易来自亚洲内部,而香港的这一比例大约为20%。
本文关键字: 中国工行发行40亿元人民币"狮城债"
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