Landmark deal sees UK Export Finance and HSBC combine for first RMB-funded financing

In:

Transport

Region:

Asia-Pacific, Europe

Jonathan Bell

Editor-in-chief

The UK export credit agency UK Export Finance (UKEF) and HSBC have teamed to arrange the first ever offshore renminbi (RMB) financing for an aircraft purchase – in this case the sale of a new Airbus A330-300 passenger aircraft to China Southern Airlines. The transaction represents a huge step forward in terms of export credit agencies (ECAs) expanding their range of new currencies to match the requirements of clients.

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