World Bank Says It’s ‘Very Open’ to Selling More Dim Sum Bonds

The World Bank may issue yuan-denominated bonds in Hong Kong again when borrowing costs become more favorable, according to Michael Bennett, its head of derivatives and structured finance.

International Finance Corp., a member of the World Bank Group, sold 150 million yuan ($23.5 million) of five-year Dim Sum bonds with a 1.8 percent coupon in January 2011, according to data compiled by Bloomberg. The debt yielded 2.35 percent yesterday. The average yield on yuan bonds in Hong Kong climbed 50 basis points to 5.53 percent this quarter, according to an index by Bank of China Ltd.