CHINA, which recently unveiled plans to support its ailing economy, got more than US$40 billion of bids for its first dollar bond issuance since 2021, reports Bloomberg.
That's 20 times the bonds on offer and helped drive the yields that will be paid by China to as little as one basis point more than what the US pays for a Treasury of similar duration.
China raised US$2 billion from three- and five-year securities at one and three basis points over Treasuries, respectively, according to a person familiar with the matter. They were initially marketed at spreads of about 25 and 30 basis points.
While the bonds were available to investors globally, officials said they will be sold in Saudi Arabia, an unusual venue given that London, New York and Hong Kong are normally being picked for such transactions.
SeaNews Turkey
That's 20 times the bonds on offer and helped drive the yields that will be paid by China to as little as one basis point more than what the US pays for a Treasury of similar duration.
China raised US$2 billion from three- and five-year securities at one and three basis points over Treasuries, respectively, according to a person familiar with the matter. They were initially marketed at spreads of about 25 and 30 basis points.
While the bonds were available to investors globally, officials said they will be sold in Saudi Arabia, an unusual venue given that London, New York and Hong Kong are normally being picked for such transactions.
SeaNews Turkey
