Perspective
17 July 2015
Landmark deal sees UK Export Finance and HSBC combine for first RMB-funded financing
In:
Transport
Region:
Asia-Pacific, Europe
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.
