China hires 12 banks for sovereign dollar bond issue
China has hired 12 banks including Bank of China, Goldman Sachs, Deutsche Bank and China Construction Bank for its second sovereign dollar bond offering in over a decade, Reuters reports.
Other banks on the deal are Bank of Communications (601328.SS), China International Capital Corporation (3908.HK), J.P. Morgan (JPM.N), CTBC Bank, Mizuho Securities (MZFGX.UL), Standard Chartered Bank (2888.HK), HSBC (HSBA.L) and Credit Agricole CIB, according to a mandate announcement.
The latest bond sale comes at a time when China and the United States are locked in a bitter trade dispute with no signs of backing down. Investors and policymakers fear the tariff row could further hurt China’s already slowing economy.
China last sold a global bond in October last year, when it raised $2 billion, its first such sale since 2004.
There was no indication of the amount China was looking to raise this time.
Last year’s bond attracted strong international interest, with investors placing orders more than 10 times the amount on offer.
A fixed income investor meeting will be held in Hong Kong on Oct. 9, the mandate announcement showed.