Michael Bennet, head of derivatives and structured finance at the World Bank says that there is a good chance that the bank will once again issue yuan-denominated bonds in Hong Kong as soon as borrowing costs improve to a more favorable rate.
According to information collected by the Bloomberg organization, International Finance Corp, a member of the World Bank, sold 150 million yuan ($23.5 million) of five-year Dim Sum Bonds in January, 2011.
“In principle, we are very open to selling more Dim Sum,” Washington-based Bennett said in an interview in Hong Kong. “For us, because we are a U.S. dollar-based institution, our ability to issue in any currency is probably dependent on after-swap costs in U.S. dollars. The opportunity comes and goes based on that level.”
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