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China Railway Corp, the nation’s biggest issuer of corporate bonds, will sell 15bn yuan ($2.5bn) of 10-year notes on December 4, after postponing issuance earlier this month, according to three people familiar with the matter. |
Surging yields in China spurred the state-owned company, which took over operations from the disbanded ministry of railways in March, to delay offerings of 10-year securities and 20-year bonds planned for November 13, two separate people said earlier this month.
The planned sale will take issuance by China Railway this half to 135bn yuan, according to data compiled by Bloomberg. The National Development and Reform Commission, the nation’s top planning agency, approved the company to sell 150bn yuan of bonds this year, according to a statement dated July 3 and posted on Chinabond’s website.
China Railway plans to sell its notes next week to yield 4.8% to 5.8%, the three people yesterday said. The company is seeking feedback from investors and will adjust its offering accordingly, they said.
There are no comments.
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