China sells first sovereign bond at negative interest rate, taking advantage of record low borrowing costs to raise capital

//China sells first sovereign bond at negative interest rate, taking advantage of record low borrowing costs to raise capital

China sells first sovereign bond at negative interest rate, taking advantage of record low borrowing costs to raise capital

China has sold the nation’s first negative-yielding sovereign bond, the latest to take advantage of the record low cost of money amid the global coronavirus pandemic to finance its borrowing.The Ministry of Finance sold about €750 million worth of a five-year note bearing an interest rate of -0.15 per cent overnight on Wednesday, the smallest tranche of a €4 billion (US$4.74 billion) sale of euro-denominated debt.The order book attracted €18 billion in bids, or 4.5 times the entire offer. The…

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By | 2020-11-19T02:46:02+00:00 November 19th, 2020|Business|Comments Off on China sells first sovereign bond at negative interest rate, taking advantage of record low borrowing costs to raise capital