South Korea Sells First Sovereign Panda Bonds as China Opens UpMoonyoung Tae, Kyungji Cho and Helen Sun
Issues 3 billion yuan of onshore local-currency notes at 3%
Sale draws orders for more than four times the amount offered
South Korea became the first foreign country to sell yuan-denominated debt in China’s domestic market, drawing orders for more than four times the amount offered and setting a benchmark as issuance of such securities picks up.
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