McDonald's Launches Yuan-Denominated Bond in HK

McDonald's has become the first nonfinancial foreign firm to launch a yuan-denominated bond in Hong Kong, reports the Wall Street Journal.

 

McDonald's is raising US$29.5 million (200 million yuan) with a three-year bond that will pay 3% annual interest, says the Journal. The fast-food giant will use the raised money to boost its brand and open more stores across China.

 

Hong Kong is slowly becoming a center for yuan-dominated finance. A development closely monitored by foreign companies with Chinese operations looking for ways settle its foreign-trade transactions, notes the Journal.



 

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