The UK government has attracted about Rmb6 billion $980 million of orders for its Rmb3 billion debut renminbi bond, establishing a sound market for other sovereign issuers.
The yield of the three-year dim sum bond, the first issued by a foreign national government, was set late on Tuesday at 2.7%.
It generated Rmb5.8 billion of demand from 85 investors, allowing the government to upsize the amount it expected to borrow from Rmb2 billion to Rmb3 billion and tighten the price from initial guidance of 2.9% to 2.7%.
“The double coverage ratio may not be a big number if put in the Asian dim...
¬ Haymarket Media Limited. All rights reserved.
