Participants attend a ceremony held by Hong Kong Exchanges and Clearing Limited to launch the "northbound" mainland-Hong Kong bond connect in Hong Kong, south China, July 3, 2017. (Xinhua/Wang Shen)
BEIJING, Feb. 17 (Xinhua) -- China Foreign Exchange Trade System (CFETS) supported three billion yuan of Renminbi-denominated panda bonds issuance by BMW China Capital B.V. with the cross-boundary subscription service earlier this month, reported Xinhua Finance citing news released by CFETS' Wechat account on Thursday.
CFETS said BMW China Capital B.V. issued the 3-year panda bonds at 3.69 percent yield, for which the cross-boundary subscription service offered via connectivity between CFETS' iDeal and ePrime of Bond Connect Co., Ltd. (BCCL) helped attract robust subscriptions.
iDeal is CFETS' bond underwriting and distribution system and ePrime is a one-stop electronic platform for bond primary deals in the offshore market launched by BCCL, operator of Bond Connect, a mutual market access scheme allowing investors from the Chinese mainland and overseas to trade in each other's bond markets.
Through connecting the two systems, the cross-boundary subscription service allows offshore investors to participate in the northbound subscription of new issuances on China interbank bond market with onshore underwriters. (Edited by Duan Jing with Xinhua Silk Road, duanjing@xinhua.org)
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