Investors clamour for landmark UK dim sum

The first renminbi bond by a foreign nation has received hefty investor demand and has set a pricing benchmark for issuers.

Investors clamour for landmark UK dim sum

The UK government has attracted about Rmb6 billion $980 million of orders for its Rmb3 billion debut renminbi bond, establishing a sound market for other sovereign issuers.

The yield of the three-year dim sum bond, the first issued by a foreign national government, was set late on Tuesday at 2.7%.

It generated Rmb5.8 billion of demand from 85 investors, allowing the government to upsize the amount it expected to borrow from...

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