China Readies U.S. Dollar Bond Sale

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11/25/2019 | 03:24 am

By Frances Yoon

China is preparing to issue a U.S. dollar bond, after having earlier this month sold debt in euros for the first time since 2004.

The country's ministry of finance has mandated 13 banks, including Chinese, Asian, U.S. and European institutions, to handle the sale, a mandate announcement from one of the banks showed Monday.

China sold $3 billion of USD bonds last year and $2 billion the year before.

Earlier in November, China sold 4 billion euros ($4.41 billion) of sovereign bonds maturing in seven, 12 and 20 years. The issue comprised EUR2 billion of seven-year debt with a yield of 0.197%, EUR1 billion of 12-year bonds yielding 0.618%, and EUR1 billion of 20-year bonds offering a 1.078% yield, bankers working on the deal said.

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