HSBC to issue first int'l renminbi bond

Banking giant HSBC said Wednesday in a statement that it would issue an international renminbi-denominated bond, the first RMB bond to be launched outside Chinese sovereign territories.

"We are proud to be able to issue this bond. It represents another step in London's development as a premier international trading center for the renminbi and is an early sign of the huge potential that this market represents," HSBC Group Chief Executive Stuart Gulliver said in the statement.

The bank did not disclose the exact amount of the RMB bond to be issued in London, which is also aiming to become an offshore RMB business center. Hong Kong media reported that HSBC might issue some 2 billion yuan (317 million U.S. dollars) of RMB bond.

Currently, offshore RMB bonds are issued in Hong Kong.