China's Ministry of Finance MOF is planning its fourth offshore renminbi bond to raise Rmb25 billion to Rmb30 billion $3.9 billion to $4.7 billion, to commemorate the 15th anniversary of the handover of Hong Kong to China, according to bankers. As the handover took place on July 1, many expect the issue to be launched around that time.
The upcoming bond is aimed at further developing the dim sum market and establishing a yield curve. However, this benchmarking exercise is likely to be more costly than previous ones.
According to Wind Info, a Chinese financial data provider, three-year onshore Chinese government bonds, which were yielding 2.84%...
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