China Sells $4 Billion Dollar Bond as Evergrande Woes Fester
- Four-tranche sovereign bond sale at 3, 5, 10 and 30 years
- Sale continues reach to institutional U.S. investors
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China sold a U.S. dollar bond in Hong Kong for the fifth straight year, even as strains emerge in the credit market amid deepening concerns over the financial health of the country’s property developers.
The Ministry of Finance said Sept. 30 it would sell a combined $4 billion of dollar bonds through a four-tranche deal, less than last year’s $6 billion sale. A person familiar with the matter said Tuesday that initial and final price guidance for the sale, which ended up at $4 billion, were as follows: