The World Bank sold its first batch of Special Drawing Right (SDR) bonds in China at a yield well below those for similar Chinese bonds, highlighting Beijing's challenge in getting global recognition for its yuan currency and SDR assets.
The three-year bonds were sold at 0.49 percent, two sources with direct knowledge of the deal told IFR, a publication of Thomson Reuters, at the lower end of the World Bank guidance at 0.4-0.7 percent and below the three-year Chinese government bond yield at 2.434/2.387 percent.
A statement from the People's Bank of China said the 500 million SDRs ($700 million) issue, which was settled in yuan, was 2.47 times oversubscribed, and that interested buyers numbered around 50.
SFC suspends dealings in Tianyun (6836) shares over massive missing
corporate funds
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Source: SFC | Source date: 15-Apr-2024 20:01
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