China to issue its first offshore sovereign bond in London

China’s Ministry of Finance plans to launch its first offshore sovereign bond in London. The CNY 3bn ($548m) three-year bond is being marketed at a price similar to bonds being sold in Hong Kong, which serves as the common venue for launching of Chinese debt aimed at the offshore market.

UK’s finance minister George Osbourne stated that China’s decision of choosing London for its bond issuance reinforced the UK’s strong economic and financial relationship with China.

Previously in 2015, The People’s Bank of China sold CNY 5b of short-term central bank notes in London for the first time.

Source: Yahoo Finance