An offshore-RMB "Schengen" bond is a bond denominated in offshore RMB, and more specifically refers to bonds listed on the Luxembourg Stock Exchange and issued by a Chinese company.
An offshore-RMB "Schengen" bond is a bond denominated in Chinese RMB, issued by a Chinese company and listed in Mainland Europe. More specifically, a Schengen bond refers to bonds listed on the Luxembourg Stock Exchange and issued by a Chinese company.