Chinese Ministry of Finance (MOF) floated 28 billion yuan of 5-year fixed-rate Treasury notes at relatively encouraging 2.8577 percent annualized yield Wednesday. MOF hailed 2.28 times of subscription for the T-note issue, which helped produce the 3.07 basis points (bp) lower than secondary market coupon rate amid present fluid liquidity environment.
According to MOF, the value date for this batch of Treasury notes is September 8 as they are additional issues for the 19th batch of book entry T-bonds issued this year. From December 9, these T-notes will be available for secondary market trading together with the original ones.
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