Zhuhai Huafa Group, a state-owned urban and property developer in China’s Guangdong province, issued an inaugural 3-year Rmb1.4 billion $191 million guaranteed digital native bond late last year in December, becoming the first corporate entity to issue such bonds on blockchain-based digital networks.
The issuance, priced at 4.5%, was issued on HSBC’s digital network, Orion cleared and settled through the Central Markest Unit CMU operated by the Hong Kong Monetary Authority HKMA and dual-listed on the Hong Kong Stock Exchange and Chonghwa Macao Financial Asset Exchange. Mainland Chinese investors can access the bond through the Southbound Bond Connect Scheme.
The transaction was completed through the group’s...
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