McDonalds, the fast-food giant, has become the first corporate to issue a renminbi-denominated bond.
The bond issuance, managed by Standard Chartered, sold in less than two hours, according to Sundeep Bhandari, Standard Chartereds regional head of global markets, speaking to FT Alphaville.
The bond was the first ever renminbi-bond launched for a foreign multinational corporate in the Hong Kong debt capital market.
In July, Standard Chartered began offering RMB-denominated structured investments to retail and wholesale clients
Financial firms began offering renminbi-denominated bonds in 2009, when HSBC issued a 1 billion yuan ($146 million), two-year floating rate note.
McDonalds sold 200 million yuan ($29 million) of 3% notes due September 2013.
Benjamin Hung, chief executive officer of Standard Chartered Bank (Hong Kong) said, As a major player in Hong Kong, we are very delighted with the pace of the RMB market development process in Hong Kong. We will continue to expand our RMB product offering and enhance the product capabilities to better serve our clients needs and help enhance Hong Kongs growing status as a RMB off-shore centre.