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China starts sale of 6b yuan bonds in Hong Kong

(Xinhua)
Updated: 2009-09-28 14:19

The Ministry of Finance started selling renminbi bonds worth 6 billion yuan ($878.5 million) in Hong Kong on Monday.

Related readings:  Govt plans 6b yuan bond float in HK  China to conclude 200b yuan local government bond sales  Govt bond sale draws big orders  Govt mulls HK$50b bond issue in Sept

It is the first time the central government has issued yuan-denominated treasury bonds outside the Chinese mainland.

The sales period of the bonds will run from Sept 28 to Oct 20. Interest will be paid half a year based on its issuance date of Oct 27, said the ministry.

An interest rate of 2.25 percent will be paid for the two-year bond, 2.7 percent for the three-year bond, and 3.3 percent for the five-year bond.