IFC enlarges bond issue to 2.75b yuan

The International Finance Corporation (IFC), a member of the World Bank Group, has increased by 750 million yuan (HK$943 million) the size of an outstanding three-year bond.

The 2.75 billion yuan issue is the largest debt in the Chinese currency ever listed on the London Stock Exchange. It yields 2.04 per cent.

Investors were from the asset management community, based in Europe and the United States. TD Securities was the sole arranger.

In March, IFC listed a 1 billion yuan-denominated bond in London, doubling the issue the same month.

 “IFC is strongly committed to supporting the development of China’s capital markets and the internationalisation of the renminbi,” vice-president and treasurer Jingdong Hua said.

“IFC’s internationally rated triple-A bonds provide a unique bridge that links international investment with China’s private-sector financing needs.”