The Ministry of Finance of China has successfully issued a 5-billion-euro sovereign bond in Luxembourg, with Industrial And Commercial Bank Of China Limited (ICBC) serving as a joint lead underwriter and joint bookrunner for the transaction.
The issuance was structured across three tranches: a 5-year tranche of 2.5 billion euros with a yield of 2.768%, an 8-year tranche of 1.5 billion euros with a yield of 2.966%, and a 12-year tranche of 1 billion euros carrying a coupon rate of 3.212%.
ICBC places significant emphasis on its role in sovereign bond issuances, leveraging its global integrated operational strengths to actively engage in investment subscriptions and market promotion.
The euro-denominated sovereign bond was met with strong demand from the international market, attracting enthusiastic subscriptions from a diverse range of investors across various regions.
The total order book reached 24.8 billion euros, representing nearly five times the final issuance amount.
Moving forward, ICBC plans to further utilize the group's comprehensive capabilities in bond business to continue supporting the Ministry of Finance in its offshore sovereign bond issuance programs.
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