OCBC launches RMB200mn offshore certificate of deposit

The issue was fully taken up within the day of its launch, said OCBC.

According to OCBC, the certificate is targeted at institutional investors.

Mr George Lee, OCBC Bank’s Head of Group Investment Banking believes that the Renminbi has potential to become a global reserve currency. “As demand for Renminbi financing and investment options continues to grow, we expect to see a greater array of products in the market to meet investor appetite,” he explained.

The present three-year certificate of deposit bears an annual interest rate of 1.10% which is payable semi-annually. The deposits, which were offered in denominations of RMB1 million, will be issued on 28 Mar 2011 and mature on 28 March 2014.

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Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.
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Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley