COFCO (Hong Kong) Limited, a wholly-owned subsidiary, successfully issued RMB 3 billion of off-shore bonds mature in three years on May 27, 2011. It is the first move made by COFCO in the bond market outside China. It is also the world's largest non-rating off-shore bond issue denominated in RMB.
This issue drew interest of over 70 investment institutions from Hong Kong, Singapore and European countries, including banks, foundations, asset management companies, insurance companies, enterprises and private banks. Their cooperation facilitated the issue which set the annual rate at 1.85%.
This issue is successful water testing of COFCO in financing its business. It enables COFCO to have access to the overseas stage and off-shore RMB markets. It lays cornerstones for COFCO to complete its industry chain.
