AB Svensk Exportkredit: SEK borrows in local Chinese currency (RMB) for second time this year
(Thomson Reuters ONE) -
SEK is issuing a 3-year bond for 500 million renminbi (RMB), which is equivalent
to just over Skr 500 million. This is the second time in a short period that SEK
has undertaken such a transaction, following the first issue in January. The
lead banks for the new bond issue were HSBC and TD. The transaction was well
received by Asian and European investors.
The issue is another step for SEK in establishing itself on the Chinese market
so that it has the capacity to meet the needs of a number of Swedish exporters
for long-term financing in local Chinese currency.
Previously, Swedish companies operating in China were only able to access local-
currency financing from banks in China, but this was expensive.
"This is an important event as Swedish companies plan to stay in China," said
Miriam Bratt, Executive Director, Funding, at SEK.
SEK's capacity to support companies with long-term financing remains strong. Its
conservative business model provides great reassurance for exporters. SEK
matches its lending and borrowing and incurs no refinancing risk. It is
reassuring for exporters to know that when they obtain financing from SEK, SEK
has already secured the necessary funding with the same maturity.
Please direct any questions to SEK's interim Head of Communications Edvard
Unsgaard on +46 721-76 85 16.
Press Release:
http://hugin.info/138134/R/1615328/514929.pdf
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Source: AB Svensk Exportkredit via Thomson Reuters ONE
[HUG#1615328]
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Datum: 28.05.2012 - 09:37 Uhr
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