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$879m RMB bonds to be issued in HK today

(chinadaily.com.cn)
Updated: 2009-09-28 11:24

The first batch of Renminbi treasury bonds, valued at 6 billion yuan ($878.85 million), will be issued in Hong Kong today, according to a previous announcement released by China's Ministry of Finance (MOF), chinanews.com.cn reported.

Related readings:  CDB to issue RMB bonds in Hong Kong  Beijing to sell first yuan bonds in Hong Kong

It will mark the first time the central government issues yuan-denominated treasury bonds outside the Chinese mainland.

According to the MOF, the two-year bonds will be mainly provided for individual investors, while the five-year bonds will be targeted for institutional investors. The three-year bonds will be allocated among both individual and institutional investors. No less than 2 billion yuan will be allotted for retail sales.