On 19 September, the Luxembourg Stock Exchange listed the first French Dim Sum bond issues.
Dim Sum bonds are denominated in offshore renminbi and are usually issued in Hong Kong. The French issues were two bonds from Air Liquide Finance, a subsidiary of the French gas provider, Air Liquide.
The two issues were admitted to trading on the regulated market of the Luxembourg Stock Exchange. One issue has a seven-year maturity and pays a fixed annual coupon of 3.95% (HK0000088853) and was for an amount of CNY 850 million. The other was for an amount of CNY 1.75 billion and has a five-year maturity paying a fixed annual coupon of 3% (HK0000088796).
The Luxembourg Stock Exchange is pleased to have been chosen for this listing. Such listings demonstrate its ability and experience to deal and trade in international securities with a wide variety of currencies, as well as to offer efficient and immediate solutions for global issuers and international market participants. The Luxembourg Stock Exchange has already listed four other offshore renminbi bonds for international issuers since May 2011.