IFC to issue record RMB1 billion in RMB bonds in London

LONDON - The International Finance Corporation (IFC), a member of the World Bank Group, is to issue RMB-denominated bonds worth RMB 1 billion in March in London. The issuance, the largest on the London Stock Exchange by a multilateral agency, seeks to increase foreign investment in China, according to IFC Vice President Hua Jingdong.

The IFC pioneered international issuance of RMB-denominated bonds in China (Panda bonds) and Hong Kong (Dim Sum bonds). It was also the first to set up a programme to issue offshore RMB-denominated discount notes on a regular basis. The IFC has a triple-A rating, which makes its bonds safer than investment in Chinese sovereign debt.