China’s $6 Billion Bond in U.S. Currency Gets Big Orders

China raised $6 billion in its latest bond offering in the currency, after pulling in about $20 billion of investor orders for the sale, according to people familiar with the matter.

The nation sold $1.5 billion of three-year notes, $2 billion apiece of five and 10-year notes and a $500 million 20-year tranche. The strong demand allowed the sovereign to cut pricing by 25 basis points on the shortest tranche to 35 basis points above U.S. Treasuries, according to a person with knowledge of the sale who isn’t authorized to speak publicly.