High demand expected for new China bonds

China has reportedly appointed Merrill Lynch to co-ordinate the US dollar part of its planned sovereign foreign bond issue, Business Monitor International said. The issue was reported to be worth between US$1.5bn and US$2.0bn.

The sale is expected to materialise this October, BMI said, and will be the first for a year, when the People's Republic launched US$1.0bn in 10-year dollar global bonds and EUR400mn in five-year instruments. Seven major banks have been appointed to manage the new sale.

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