Yuan Depreciation Risk Spurs Greenland Into $100 Million HedgeBy
Chinese developer Greenland Hong Kong Holdings Ltd. has moved to hedge its foreign-exchange risk after falls in the yuan.
The builder has entered into forward contracts of $100 million to protect itself against yuan-dollar currency risk, it said in a filing to the Hong Kong stock exchange Wednesday. Greenland said it has borrowings denominated in the greenback while its earnings are mainly in the Chinese currency. Declines in the renminbi “may therefore impact the financial results of the group,” it said…
Leave a Reply
You must be logged in to post a comment.