London Stock Exchange welcomes International Finance Corporation’s first London-listed renminbi bond
Wednesday 26th March 2014
London Stock Exchange today welcomed IFC Executive Vice President and CEO Jin-Yong Cai to mark the listing of IFC’s first London-listed renminbi bond.
On March 4, IFC issued a 1 billion renminbi-denominated bond to support the internationalization of the Chinese currency. The issuance marks the first benchmark-sized bond on London Stock Exchange by a multilateral institution, attracting investors from around the world. IFC doubled the bond on March 13, bringing the total volume of the bond to 2 billion renminbi outstanding. IFC will use the proceeds of the bonds for onshore investment in China.
“IFC is committed to supporting the development of China’s capital markets, and the IFC renminbi bond sends a strong signal of confidence at a time of global uncertainty,” Cai said. “IFC's internationally rated triple-A bonds provide a unique bridge between international and domestic capital markets in China.”
IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. Working with private enterprises in more than 100 countries, IFC use its capital, expertise, and influence to help eliminate extreme poverty and promote shared prosperity. In FY13, IFC’s investments climbed to an all-time high of nearly $25 billion, leveraging the power of the private sector to create jobs and tackle the world’s most pressing development challenges. For more information, visit www.ifc.org