(Yicai Global) Oct. 12 -- China issued USD3 billion in sovereign bonds without ratings in Hong Kong yesterday and total subscriptions exceeded USD13 billion.
The finance ministry issued USD1.5 billion in five-year bonds with a coupon rate of 3.25 percent and USD1 billion in ten-year bonds with a coupon rate of 3.50 percent, it said in a statement. 30-year bonds totaled USD500 million at 4 percent.
The issuance has attracted hundreds of central banks, monetary administrations, sovereign wealth funds, large international commercial banks, investment banks, insurance companies, trust and asset management companies as well as other institutional investors from several countries and districts.
The successful issuance of sovereign bonds in US dollars despite fierce fluctuations on global capital markets fierce demonstrated the firm belief among international investors that the Chinese economy is on an upward trend and will grow at a healthy rate in the long-term.