Just a month after the People’s Republic of China returned to the 144a bond market after a 16-year absence, it printed the year’s largest euro-denominated sovereign bond from the region with a 4 billion $4.7 billion three-tranche deal.
The country’s second euro issue in two years, coming after an absence of 15 years, saw significant demand last week. Books were covered almost four times particularly from European accounts which allowed China to reprice its bond yield curve and see, for the first time from the sovereign, a negative yield.
“This is the second consecutive year that the Ministry of Finance MoF has issued euro bonds since...
¬ Haymarket Media Limited. All rights reserved.
