Core Viewpoint - The issuance of 60 billion offshore RMB government bonds in Macau marks a significant milestone for the local bond market, being the first bond issuance following the financial infrastructure connectivity between Hong Kong and Macau, and it introduces a 10-year bond maturity option for the first time [1] Group 1: Bond Issuance Details - The bond issuance consists of three maturities: 2 years (30 billion), 5 years (20 billion), and 10 years (10 billion) with respective coupon rates of 1.43%, 1.55%, and 1.72% [1] - The issuance achieved a record high in terms of single bond issuance scale in the Macau market, contributing to the high-quality development of the local bond market [1] Group 2: Market Response - The bond attracted significant interest from both domestic and international investors, with a peak subscription amount reaching 36.52 billion RMB, resulting in a subscription multiple of approximately 6.1 times, the highest ever recorded for bond issuances in Macau [1] - Institutional investors, including monetary authorities, commercial banks, and investment banks, actively participated in the subscription process, indicating strong market demand [1] Group 3: Historical Context - This marks the fifth issuance of offshore RMB government bonds in Macau, with China Bank serving as the lead underwriter for all previous issuances [1]
中国银行协助财政部在澳门发行60亿元离岸人民币国债