BTMU to Issue First Offshore RMB Denominated Bonds in Japan
OREANDA-NEWS. The Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU) (President: Nobuyuki Hirano) is pleased to announce that it has decided to issue renminbi (RMB) denominated bonds in Japan. This marks the first time that this type of bond has been issued in the Tokyo market.
Issue Amount RMB 350 million (approximately. JPY 7 billion) Issue Date June 24, 2015 (Pricing Date: June 18, 2015) Tenor 2 yrs Coupon Fixed coupon 3.64% Rating Planned to be rated by JCR Subscribers Private placement to institutional investors in Japan Lead Manager Mitsubishi UFJ Morgan Stanley Securities Co., Ltd.
At a meeting between the leaders of China and Japan held in Beijing on December 25, 2011, it was agreed to strengthen cooperation aimed at the further development of the financial markets of Japan and China. Following the establishment of a cooperation framework between the two countries to support the sound development of yen and RMB denominated bond markets, BTMU has been considering the issuance of RMB denominated bonds in Japan.
In accord with initiatives by the Chinese government to promote the internationalization of the renminbi and diversify its sources of stable funding, in May 2010 BTMU subsidiary BTMU (China) issued RMB denominated bonds in the China onshore market, and in May 2014 issued offshore RMB denominated bonds (Dim Sum bonds) in Hong Kong. BTMU has the largest network in China amongst Japanese banks, and as China makes progress with deregulation in its financial sector, aims to fully utilize that network to provide innovative and high quality services to its customers.
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