Bloomberg News

Bosch-Siemens Considers Third Dim Sum Sale in 2013: Treasurer

July 11, 2012

BSH Bosch und Siemens Hausgeraete GmbH may sell yuan-denominated bonds in Hong Kong for the third time next year after the Germany appliance maker raised 1.25 billion yuan ($196 million) this week, according to the group’s treasurer Kai Schrickel.

Bosch-Siemens sold 150 million yuan of 10-year Dim Sum bonds at 4.375 percent as part of the offering, Schrickel wrote in an e-mailed reply to questions yesterday. That’s the longest non-financial corporate offshore yuan-denominated bonds on record. The company met investors in Hong Kong and Singapore and informed Taiwanese investors in late June and received “encouraging” feedback, Schrickel said, adding the proceeds will be used to fund the company’s business in China.

“Depending on the market development, we generally can imagine coming back next year,” said Schrickel.

Bosch-Siemens priced 300 million yuan of 2.5-year Dim Sum bonds at 2.9 percent and 800 million yuan of 5-year bonds at 3.8 percent this week, Schrickel 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: Sandy Hendry at shendry@bloomberg.net


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