Japan’s Mitsubishi UFJ To Issue China Yuan Bonds

From AFP:

Bank of Tokyo-Mitsubishi UFJ said Monday it plans to issue yuan-denominated in China early next year after becoming the first foreign commercial bank to obtain government approval.

The Japanese bank, which was given the green light by China’s regulator on Thursday, will issue one billion yuan (146.4 million dollars) in bonds on the interbank bond market through its Chinese unit, a Tokyo-based spokesman told AFP.

“We will begin procedures early next year for the issuance,” he said, adding the issuance date had not been decided.

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