on october 14, the ministry of finance, prc issued us $6 billion in sovereign bonds in the hong kong special administrative region. among them, the three-year issue of $1.25 billion, the yield of 0.425%; five-year $2.25 billion offering yield 0.604%; $2 billion 10-year issue with a yield of 1.226%; the 30-year $500 million offering has a yield of 2.310%.
this issuance of us dollar sovereign bonds is the fourth consecutive year since the resumption of us dollar sovereign bond issuance by the ministry of finance in 2017. it is also the first issuance in recent years under the dual rules of reg s and 144a, with credit rating given by international rating companies. in terms of issuance, investors subscribed heavily, with orders reaching 4.7 times of the issuance, and all maturities realized a new issuance premium of negative 5-10 basis points. the offering new qualified investors in the united states is introduced, further broaden the investor base, international organizations, the central bank and the regional monetary authorities to investment, pension funds, commercial banks, insurance companies, information technology companies, fund companies, such as actively involved in the issue, and in the region and type of carrying a good distribution.
the dollar sovereign bond issue, for further chinese faxingti more market to establish and perfect the yields on benchmark, reflects the higher level comprehensive opening to the outside world of determination and confidence, complied with the trend of economic and financial globalization, deepens and the international capital market financing, and cooperation with international investors, promote domestic and international dual cycle promotes development pattern.
source: ministry of finance, prc