MOF dim sum bond

No longer cheap: China’s finance ministry to pay up for dim sum

With the renminbi no longer a one-way bet, China's Ministry of Finance is expected to have to pay up for its upcoming dim sum bond.
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A scene from the Hong Kong handover celebrations in 2010. This year, a dim sum bond may be added to the mix (Eyepress News)</div>
<div style="text-align: left;"> A scene from the Hong Kong handover celebrations in 2010. This year, a dim sum bond may be added to the mix (Eyepress News)</div>

China's Ministry of Finance MOF is planning its fourth offshore renminbi bond to raise Rmb25 billion to Rmb30 billion $3.9 billion to $4.7 billion, to commemorate the 15th anniversary of the handover of Hong Kong to China, according to bankers. As the handover took place on July 1, many expect the issue to be launched around that time.

The upcoming bond is aimed at further developing the dim sum market and establishing a yield curve. However, this benchmarking exercise is likely to be more costly than previous ones.

According to Wind Info, a Chinese financial data provider, three-year onshore Chinese government bonds, which were yielding 2.84%...

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