By Wendy Van Sickle
Columbus, Ohio, Oct. 28 – The People’s Republic of China through its Ministry of Finance issued an additional RMB 4.5 billion of 2.41% bonds due 2023 and RMB 1.5 billion of 3.6% bonds due 2028 through a competitive tender offer, according to a memorandum and a press release.
The 2.41% bonds will be consolidated and form a single series with the RMB 5 billion of 2.41% bonds (CMU Instrument No.: BCMKFB21002).
The 3.6% bonds will be consolidated and form a single series with the RMB 500 million of 3.6% bonds (CMU Instrument No.: BCMKFB13045).
The tender date was Oct. 20, and the issuance date was Oct. 22.
For the 2023 bonds, investors applied for RMB 10.072 billion of the bonds.
For the 2028 bonds, investors applied for RMB 3,218,500,000 of the bonds.
Bank of Communications Co., Ltd. Hong Kong Branch was the issuing and lodging agent.
| Issuer: | People’s Republic of China
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| Issue: | Bonds
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| Amount: | RMB 6 billion
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| Counsel to issuer: | Linklaters (Hong Kong), Law Department of the Ministry of Finance (China)
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| Trade date: | Oct. 20
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| Settlement date: | Oct. 22
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| Distribution: | Public
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|
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| 2023 bonds
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| Amount: | RMB 4.5 billion
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| Maturity: | Sept. 27, 2023
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| Coupon: | 2.41%
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| Price: | 99.82 to 100.78; average price 99.93
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| Issue number: | BCMKFB21002
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| 2028 bonds
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| Amount: | RMB 1.5 billion
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| Maturity: | June 27, 2028
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| Coupon: | 3.6%
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| Price: | 105.1 to 109.97; average price 105.47
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