Bloomberg News

China Sells 3-Year Local Govt Debt at 3.67% Yield, Trader Says

October 16, 2011

Oct. 17 (Bloomberg) -- China’s finance ministry sold 17.6 billion yuan ($2.8 billion) of three-year bonds at a yield of 3.67 percent on behalf of local governments, according to a trader at a finance company that participates in the auctions.

The ministry issued similar-maturity local government bonds

at a yield of 4.01 percent on Aug. 22.

The finance ministry in January published a list of 59 underwriters required to bid at its debt sales, including Industrial & Commercial Bank of China Ltd., Agricultural Bank of

China Ltd., Bank of China Ltd., China Construction Bank Corp., China Citic Bank Corp, Postal Savings Bank of China, Industrial Bank Co., Guotai Junan Securities Co. and BOC International (China) Ltd.

To contact the editor responsible for this story: Gregory Turk at gturk2@bloomberg.net


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