HSBC, StanChart Sell Singapore’s First Dim Sum Bonds
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HSBC Holdings Plc and Standard Chartered Plc sold the first yuan-denominated bonds in Singapore, making the city state the third offshore hub for notes in the Chinese currency.
HSBC priced 500 million yuan ($81.7 million) of two-year notes through its Singapore branch at 2.25 percent, according to an e-mailed statement from Europe’s biggest bank. Standard Chartered, which generates most of its operating profit in Asia, sold 1 billion yuan of 2.625 percent three-year notes, according to a separate e-mailed statement from the lender. The notes priced to yield 2.75 percent, a person familiar with the matter said earlier today.