Bloomberg News

Bank of Tokyo Mitsubishi, Citi Said to Agree Offshore Yuan Swap

April 01, 2012

Bank of Tokyo-Mitsubishi UFJ Ltd. and Citigroup Inc. (C:US) agreed a one-year interest-rate swap in Hong Kong’s offshore yuan market, according to two people with direct knowledge of the matter.

Under the terms reached, Bank of Tokyo-Mitsubishi will pay 2.45 percent on 100 million yuan in exchange for the three-month interbank offered rate, which will be fixed quarterly, they said.

To contact the reporter on this story: Fion Li in Hong Kong at fli59@bloomberg.net

To contact the editor responsible for this story: James Regan at jregan19@bloomberg.net


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