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China to sell first dollar bonds for 13 years

AFP  |  Beijing 

today announced plans to sell its first dollar-denominated sovereign bonds for 13 years despite recent downgrades to its credit rating.

The USD two billion offering, announced by the ministry, is a drop in the bucket for China, which has sold 2.4 trillion yuan (USD 366 billion) of central debt this year, according to

But the move could be intended to ease concerns after Standard & Poor's and cut its credit ratings in recent months due to the country's mounting debt load.

The ministry will sell USD one billion of five- year notes and USD one billion of 10-year notes in Hong Kong, but the statement did not say what it expected.

The first dollar-denominated debt issue since 2004 comes as the prepares for its twice-a-decade leadership meeting next week.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, October 11 2017. 15:57 IST