China to sell first dollar sovereign bonds since 2004

Beijing

CHINA will sell its first US dollar-denominated sovereign bonds since 2004 in coming months along with yuan bonds, in its first overseas issuance of national debt since Moody's downgraded its sovereign credit rating in May.

The Finance Ministry said on Tuesday it will issue 14 billion yuan (S$2.84 billion) of treasury bonds denominated in yuan, and dollar-denominated sovereign bonds equivalent to two billion yuan in a rare, albeit small-sized offering.