Tesco has rolled out an offshore Chinese renminbi-denominated bond in Hong Kong, raising $114 million, Financial Times reports. The sale proceeds will be used to finance its plans to expand in China. The bonds, scheduled to mature in 2014, carry a semi-annual coupon of 1.75% annually. The company appointed HSBC and Standard Chartered to manage the sale.
Click here for the story from Financial Times.
Click here for additional coverage from Reuters.