China makes rare global bond offering.
Global Banking News-October 27, 2017--China makes rare global bond offering
(C)2017 ENPublishing - http://www.enpublishing.co.uk
Global Banking News - 27 October 2017
Investors are jostling for a rare global bond issue by China, Reuters has reported.
Orders have been boosted to over USD22bn, which has allowed the issuer to price it at lower spreads than initially indicated on Thursday. China last sold a global bond in 2004.
In the latest sale, China has priced a USD1bn, five-year bond at 15 basis points over US Treasuries and a USD1bn, 10-year bond at 25 bps. The bonds are unrated.
An analyst said, 'Everyone wants to get their hands on this bond. These are tight levels but we are interested as there is little risk of repeated issuance in the same maturity bucket.'
[Editorial queries for this story should be sent to firstname.lastname@example.org]
((Distributed via M2 Communications - http://www.m2.com))