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China Development Bank Bond Is a Tough Sell as Investors Flock to Special Purpose Debt

2020年06月24日 20:29 来源于 财新网
Deluge of special purpose bond sales by Ministry of Finance is crowding out other issuers
China Development Bank on Tuesday sold a 12.2 billion yuan five-year bond at a coupon rate nearly 40 basis points higher than the previous day’s closing yield on a comparable bond.

The surge in sales of special purpose Chinese government bonds (CGB) this year is pushing up borrowing costs as investors demand higher yields on debt issued by other entities, even quasi-sovereign institutions such as policy banks.

版面编辑:喻竹杨洋
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