More NewsStandard Chartered Reaches RMB1bn of Euro Commercial Paper Issuance Out of London

Standard Chartered Reaches RMB1bn of Euro Commercial Paper Issuance Out of London

Standard Chartered has passed renminbi (RMB)1bn in outstanding euro commercial paper (ECP) issuance out of London. This is a further development in London’s quest to become an offshore RMB centre, the scale of issuance illustrating the pace and momentum taking place in this market. It increases liquidity and leverages London’s product capabilities and infrastructure.

Listed on Euroclear, the ECP bridges the tenor gap between ‘dim sum’ bonds and traditional deposits for investors; in other words, it creates a new instrument and market for investors from Europe and Asia to access short-term RMB securities offering attractive yields. A large part of the funds raised will be used to provide inter market liquidity between London and Hong Kong to support RMB trade assets for clients.

Karen Fawcett, group head of transaction banking, said: “We are delighted to be at the forefront of supporting London’s development as an offshore RMB centre and are proud to be a key facilitator of international trade for our clients. The ECP programme demonstrates the bank’s capability to support our clients’ needs to manage their portfolio of working capital currencies and our commitment to continue our 150 year history of supporting global trade.”

Related Articles

Preparing for GDPR? Here’s four things to consider

More News Preparing for GDPR? Here’s four things to consider

2m Elliott Wiseman
Cash flow in focus for investors

Cash Management Cash flow in focus for investors

3m Conor Deegan
Treasury TV: Karen Pugsley, Domino's Pizza Group

More News Treasury TV: Karen Pugsley, Domino's Pizza Group

3m Victoria Beckett
Treasury TV: Yeng Butler compares US and European MMF reforms

Compliance Treasury TV: Yeng Butler compares US and European MMF reforms

3m Victoria Beckett
Treasury TV: Tim de Knegt, The Port of Rotterdam

10 Minutes With The Treasury Treasury TV: Tim de Knegt, The Port of Rotterdam

4m Victoria Beckett
Banks are selling clients short with short dated cash deposit U-turns

Banking Banks are selling clients short with short dated cash deposit U-turns

4m Victoria Beckett
What does sterling’s Brexit boost mean for UK manufacturers?

More News What does sterling’s Brexit boost mean for UK manufacturers?

4m Tasja Botha
FX for corporates: 5 best practices for treasurers

Economy FX for corporates: 5 best practices for treasurers

4m Mateo Graziosi