China made its first issuance of sovereign bonds denominated in euros in fifteen years, state television CGTN reports today.
This release, estimated at 4,000 million euros (4,429 million dollars), is also the largest one issued in foreign currency of a single strike for China, and the first Chinese sovereign bond issued in France.
These bonds are divided into three parts: one of 2,000 million euros (2,215 million dollars) for seven years with an interest of 0.197%; another, of 1,000 million euros (1,107 million dollars) at twelve years with a revenue of 0.618%, and another one of 1,000 million euros at twenty years that offers a return of 1,078 percent.
The demand for these bonds has skyrocketed, with orders amounting to some 20,000 million euros (22,145 million dollars), funds from 57% in Europe and 43% from outside that continent.
Chinese public television ensures that this operation "shows China's total and high level opening to the international market, especially with European investors, and has an important meaning for China's greater integration into the international financial market."
Previously, China issued dollar-denominated debt: 2,000 million dollars (1,806 million euros) in 2017 and 3,000 million dollars (2,710 million euros) in 2018.
. (tagsToTranslate) China (t) makes (t) first (t) issue (t) denominated