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Section: General News - McDonald's Corporation became the first foreign company to issue a bond in the Chinese currency, as Beijing takes new steps to increase the use of the yuan in international transactions.
The U.S. fast-food giant this month borrowed 200 million yuan, the equivalent of 29 million dollars, by issuing a bond to investors in Hong Kong. With the help of Standard Chartered Bank, McDonald's took advantage of recently relaxed rules in the use of the Chinese currency, also known as the renminbi.
Sundeep Bhandari, regional head of global markets in Northeast Asia at Standard Chartered, says the McDonald's bond will be first of many from foreign …