Date
18 August 2017

Mercedes-Benz to issue yuan bond in China, paper says

Mercedes-Benz is expected to soon become the first foreign non-financial institution to issue yuan-denominated bonds on China’s interbank bond market, Economic Information Daily reported Tuesday, citing a source with knowledge of the matter. The approval for the issue could represent further opening up of the Chinese bond market, the report said. Bank of China (BOC, 03988.HK, 601988.CN) will be the lead underwriter but it’s not clear if the Chinese regulator will approve the proceeds for overseas investment, it said.

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