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ICBC Helps CN MOF Successfully Issue US$2B Sovereign Bonds
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ICBC (01398.HK) (601398.SH), acting as joint lead underwriter and joint bookrunner, recently assisted China's Ministry of Finance in successfully bookrunning and issuing US$2 billion sovereign bonds in Riyadh, the capital of Saudi Arabia. This marked the first domestic sovereign bond issued and listed in the Middle East region. It is reported that the bond issuance includes a five-year tranche of US$1.25 billion with an interest rate of 4.284%, and another five-year tranche of US$750 million with an interest rate of 4.34%. The USD sovereign bonds were warmly received by the market and enthusiastically subscribed by international investors. The total subscription amount reached US$39.73 billion, 19.9 times the issuance amount, with the five-year tranche being subscribed 27.1 times, marking the highest multiple for global sovereign bond issuances in recent years. AAStocks Financial News |
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