U.S. Buyers Fuel Bumper Demand for China’s $6 Billion Debt
- More than $4.6 billion orders came from U.S. investors
- Pricing tightened as much as 30bps from initial guidance
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China drew more than $27.2 billion in orders for its $6 billion dollar bond, underscoring strong demand for its sovereign debt in an environment of low yields across the world.
The Ministry of Finance priced the jumbo-sized notes with three-year, five-year, 10-year and 30-year maturities, with an orderbook more than 4.5 times the issuance size, according to a person familiar with the matter who isn’t authorized to speak publicly. Premiums tightened as much as 30 basis points from initial pricing guidance.