Investors Are Lapping Up China's New Dollar Bonds
- Ten-year bond priced 25 basis points over Treasuries
- Helps set benchmark for foreign currency bonds from China
China Seeks to Sell $2 Billion of Sovereign Bonds
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China sold its first sovereign dollar bonds since 2004 following a week when Chinese leaders in Beijing outlined a greater role for the nation on the world stage.
The Ministry of Finance priced the bonds 15 basis points over Treasuries for its $1 billion of five-year notes, from an initial guidance of 30-40 basis points announced earlier on Thursday. The 10-year notes were priced at 25 basis points, from the initial guidance of 40-50 basis points, according to people familiar with the offering, who aren’t authorized to speak publicly.