Guangdong gov’t to issue RMB5b bonds in HK
Proceeds from the two-year bonds will fund projects in Nansha, Guangzhou.
The Guangdong Provincial Government will issue offshore renminbi (RMB) bonds not exceeding $5.4b (RMB 5b) in Hong Kong this month, to be listed on the Hong Kong Stock Exchange.
Proceeds from the two-year bonds will fund projects in Nansha, Guangzhou, whilst the three-year bonds will support infrastructure in the Pearl River Delta. The five-year bonds will be issued as green bonds. The bonds will have two, three, and five-year tenors.
Chief Executive John Lee said the government welcomed the bond issuance through Hong Kong’s financing platform for the first time.
“Fully demonstrating Hong Kong's significant strengths in issuing RMB debt products, this bond issuance also further solidifies its position as a global offshore RMB business hub, contributes to the prudent and solid advancement of RMB internationalisation, and enables the bay area to better serve as the momentum for high-quality development,” he said.