Washington, D.C., August 4, 2014—IFC,
a member of the World Bank Group, today increased by 750 million renminbi
(approximately $121 million) an outstanding three-year London-listed bond,
supporting the internationalization of the Chinese currency and encouraging
foreign investment in China.
The 2.75 billion renminbi bond is now the largest debt in that currency
ever listed on the London Stock Exchange.
“IFC is strongly committed to supporting the development of China's capital
markets and the internationalization of the renminbi," said IFC Vice
President and Treasurer Jingdong Hua. "IFC's internationally rated
triple-A bonds provide a unique bridge that links international investment
with China's private sector financing needs."
The bond yields 2.04 percent. Investors were from the asset management
community, based in Europe and the US. TD Securities was the sole arranger.
In March, IFC listed a 1 billion renminbi-denominated bond in London, doubling
the issue the same month.
IFC supports the development of China’s financial sector by working with
the government to create a regulatory and legal environment that supports
the growth of financial services, promotes the microfinance industry, strengthens
commercial banks, and develops the country's financial and capital markets.
Mature financial and capital markets allow companies to efficiently raise
financing so they can grow and create jobs.
IFC previously pioneered the international issuance of renminbi-denominated
bonds in China (Panda bonds) and Hong Kong (Dim Sum bonds). IFC was also
the first to set up a program to regularly issue offshore renminbi-denominated
In China, IFC focuses on private sector investments that help fight climate
change, enable rural development, and promote sustainable Chinese investments
overseas. Since 1985, IFC has invested about $7 billion (around 42 billion
yuan) in more than 270 projects in the country, including nearly 3 billion
yuan in local-currency investments.
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 about 100 countries, we use our capital, expertise, and
influence to help eliminate extreme poverty and boost shared prosperity.
In FY14, we provided more than $22 billion in financing to improve lives
in developing countries and tackle the most urgent challenges of development.
For more information, visit www.ifc.org