The government of Guangdong province and rail operator MTR Corp have completed yuan-denominated bond offerings in Hong Kong, adding to a record wave of such issuances in the city this year.
The 5 billion yuan (US$703 million) offering by the southern Chinese province, comprising 2 billion yuan in two-year bonds, 1.5 billion yuan in three-year bonds and 1.5 billion yuan in five-year bonds, attracted 57.18 billion yuan in bids from investors, making it 11.4 times oversubscribed, Bank of China (Hong Kong) said in a press release on Wednesday. BOCHK is a joint lead-manager and bookrunner, the clearing bank and the green structure consultant for the sale.
The dim sum bond market has been booming this year. Issuance exceeded 465 billion yuan in the first half, a jump of 28 per cent despite a higher base of comparison in the year-earlier period, according to the Hong Kong Monetary Authority.
