25倍认购！财政部在卢森堡发行40亿欧元主权债券

Core Viewpoint - The Ministry of Finance of the People's Republic of China successfully issued €4 billion in sovereign bonds in Luxembourg, marking the first issuance of euro-denominated sovereign bonds by China in this financial hub, which received strong market interest with a total subscription amount of €100.1 billion, 25 times the issuance amount [1][2] Group 1: Issuance Details - The issuance included €2 billion in 4-year bonds at an interest rate of 2.401% and €2 billion in 7-year bonds at an interest rate of 2.702% [1] - The 7-year bonds had a subscription multiple of 26.5 times, indicating high demand from international investors [1] Group 2: Investor Composition - The investor base was diverse, with geographical distribution as follows: 51% from Europe, 35% from Asia, 8% from the Middle East, and 6% from offshore investors in the United States [1] - The types of investors included sovereign entities (26%), fund management (39%), banks and insurance companies (32%), and dealers (3%) [1] Group 3: Strategic Implications - The choice of Luxembourg as the issuance location is seen as a move to deepen engagement with European institutional investors and signal China's commitment to further opening its capital markets [2] - This issuance is expected to enhance China's influence in international financial markets and strengthen cooperation with Europe in investment and risk management [2] - The issuance also aims to establish a pricing benchmark for euro-denominated bonds, facilitating future financing for Chinese enterprises in the euro market [2]