McDonald's Corp., the first foreign firm which launched yuan bonds in Hong Kong, has seen strong demand in Asia's financial hub.
The US fast-food giant plans to raise 200 million yuan (HK$228.86 million) through the issue of three-year bonds, said Standard Chartered Bank, the sole arranging bank for the move.
IBTimes
McDonald's now has 811 stores nationwide.
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The bonds were welcomed by institutional investors in Hong Kong and overseas, local media Standard reported, citing Sundeep Bhandari, StanChart's regional head of global markets, Northeast Asia as saying.
The bond issue, though relatively small, will strengthen Hong Kong's status as a yuan offshore center, Bhandari said.
With the funds raised, MacDonald's will provide working capital to support the growth of McDonald's in China, including the opening of restaurants, the Standard cited
the fast- food chain as saying.
McDonald's, which already runs over 1,100 restaurants with 60,000 staff in mainland China, aims to open 150 to 175 new restaurants there by the end of 2010.
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