Shangri-La Debuts in Offshore Renminbi Bond Market with CNH1.02 Billion Dim Sum Bond

5 hours ago

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Shangri-La Asia Limited and United Overseas Bank Limited (“UOB”) today announced the successful issuance of the Group’s inaugural offshore Renminbi (“CNH”) Dim Sum Bond, with DBS and UOB acting as Joint Dealers for the transaction.

The CNH1.02 billion 7-year bond, issued by way of private placement, carries a coupon rate of 2.70% per annum. The bond was priced on 29 October 2026 and settled on 9 November 2026.

Building on its previous successful Panda Bond issuances in the onshore Renminbi market, the Dim Sum Bond broadens Shangri-La’s access to Renminbi funding across both onshore and offshore markets. The issuance further diversifies the Group’s funding sources, enhances the flexibility of its overall funding platform and secures long-dated funding beyond the customary tenor of the Group’s bank borrowings and Panda bonds.

The net proceeds from the issuance will be used for general corporate purposes, including refinancing of existing indebtedness.

Ms. Cindy Kwan, Managing Director, Head of Investment Banking Coverage and Fixed Income Greater China, Global Financial Markets, DBS, said: "We are pleased to support Shangri-La on its inaugural Dim Sum Bond issuance, broadening its funding access to the offshore Renminbi market. Having previously supported its Panda Bond issuances as Joint Lead Underwriter, we are delighted to continue our partnership with Shangri-La in diversifying its Renminbi funding channels. This transaction also reflects the continued development of CNH financing opportunities for high-quality corporate issuers. Leveraging our debt capital markets expertise and global network, we look forward to supporting corporate clients to access funding across markets and tailor financing solutions to meet their long-term needs."

Mr. Samuel Tan, Head of Group Investment Banking, UOB, said: “We have jointly led Shangri-La’s inaugural Dim Sum Bond issuance, and are pleased to support the Group in advancing this important milestone in its engagement with the offshore Renminbi bond market. The issuance broadens Shangri-La’s access to funding sources and further diversifies its funding base, strengthening its financial flexibility across the onshore and offshore Renminbi markets.

It also demonstrates how CNH financing can complement a diversified funding strategy and provide corporates with greater choice in accessing capital. We look forward to building on this partnership and supporting Shangri-La’s future capital markets initiatives through UOB’s regional expertise and connectivity across ASEAN and China.”

Mr. Nee Chuan Teo, Chief Financial Officer and Executive Director of Shangri-La, said, “We are pleased to complete our inaugural 7-year Dim Sum Bond issuance. Building on our experience in the onshore Panda Bond market, this transaction expands our Renminbi funding capabilities into the offshore bond market and further lengthens the maturity profile of the Group's Renminbi bond issuances. This successful placement reflects investors' strong recognition of Shangri-La's established business profile, financial robustness, and track record. We are encouraged by the support from our investors and banking partners as we continue to execute our long-term funding strategy... Continue reading (Members Only) - Unlock Advantages with a LHN Membership - Read more here