ADB launches landmark renminbi bond in Hong Kong

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The Asian Development Bank (ADB), a multilateral institution, launched its first international renminbi bond on Tuesday.

The bond, which was launched in Hong Kong, drew an order book of more than Rmb2 billion ($30.9m), leading the ADB to increase its issuance from Rmb1 billion to Rmb1.2 billion.

McDonalds, a food company, and Hopewell Highways Infrastructure, a Hong Kong building company, have also issued international renminbi bonds in Hong Kong. However, with a ten-year maturity and a triple-A

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