China launches 4 bln euro bond deal

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HONG KONG, Nov 10 (Businesshala) – China on Wednesday issued a three-tranche euro-denominated bond in its second major foreign exchange transaction in over a month, according to a term sheet reviewed by Businesshala.

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The country’s finance ministry said on October 29 that the deal would increase to 4 billion euros ($4.6 billion) and the loan would be issued in three, seven and 12-year tranches.

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Initial pricing guidance for investors has been set in the mid swap rate plus 20 basis points area for 3-year deal, 40 basis points area for 7 year and 65 basis points area for 12-year tranche, on the term sheet. Has shown.

Beijing has said that issuing offshore sovereign bonds could help create a price benchmark for Chinese corporate bond issuance overseas, and help China more closely integrate into the global financial system.

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The sale of euro bonds follows China’s announcement on October 20 that it had successfully completed the issuance of US dollar denominated bonds worth $4 billion. ($1 = 0.8655 euros) (Reporting by Scott Murdoch in Hong Kong and Samuel Shen in Shanghai; Editing by Richard Pullin)

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