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People walk outside one of the branches of HSBC in Hong Kong March 4, 2013.
People walk outside one of the branches of HSBC in Hong Kong March 4, 2013.
(Bobby Yip/Reuters)

B.C. set to debut dim sum bond

The Province of British Columbia is set to tighten ties with Asia through a new bond issuance priced in Chinese currency.

This capital raising venture makes B.C. the first foreign government to do a “dim sum” bond issue to dig into China’s offshore debt market. The cute nickname refers to a debt offering by a foreign issuer that is denominated in Chinese renminbi, sometimes called the yuan. It will be listed in Luxembourg.