China plans $3.75b bonds in Hong Kong

BEIJING - China's Ministry of Finance said Sunday that it plans to issue yuan-denominated treasury bonds in Hong Kong worth 23 billion yuan ($3.75 billion).

Among the total, 13 billion yuan worth of bonds will be sold on June 26 and the rest will be issued in the second half of the year.

In the first batch, 10 billion yuan worth of bonds will be sold to institutional investors via the bond-tendering platform of the Central Moneymarkets Unit (CMU), with the maturities ranging from three, five or seven years to 10, 15, or 30 years.

Also, 3 billion yuan worth of bonds will be sold to foreign central banks and monetary authorities.

In the batch issued in the second half of the year, 7 billion yuan worth of bonds will be offered to institutional investors while 3 billion yuan worth of bonds will be sold to Hong Kong residents.