Core Viewpoint - The issuance of €4 billion sovereign bonds by the Chinese Ministry of Finance in Luxembourg demonstrates China's commitment to deepening its integration with international financial markets and provides attractive investment opportunities for international investors [1] Summary by Sections Bond Issuance Details - The bond issuance includes €2 billion of 4-year bonds and €2 billion of 7-year bonds, with strong demand from international investors [1] - The 4-year bonds were priced at the mid-swap rate plus 5 basis points, resulting in an issuance yield of 2.401% [1] - The 7-year bonds were priced at the mid-swap rate plus 13 basis points, resulting in an issuance yield of 2.702% [1] Underwriters and Management - JPMorgan acted as the joint lead underwriter and bookrunner for the issuance [1] - HSBC served as a joint lead underwriter and joint bookrunner [1] - Citigroup was involved as a joint bookrunner and joint manager, while Standard Chartered acted as a joint lead underwriter and bookrunner, as well as the settlement agent [1] Market Implications - The pricing of these euro-denominated sovereign bonds is seen as an attractive investment opportunity for international investors, reflecting China's ongoing efforts to enhance its presence in the international financial market [1] - This issuance is expected to contribute to the establishment of a euro bond pricing system for Chinese entities, providing a benchmark for future financing in the euro market [1]

财政部11月19日消息显示，11月18日，财政部代表中央政府在卢森堡成功发行了40亿欧元主权债券。其 中，4年期20亿欧元，发行利率为2.401%；7年期20亿欧元，发行利率为2.702%。 "本次发行是财政部第五次进入国际欧元债券市场，此外债券于卢森堡上市进一步彰显了中卢金融合作 的坚韧实力。"渣打银行大中华及北亚地区资本市场主管、董事总经理严守敬指出，本次发行开始簿记 建档后即获得全球投资者的踊跃认购，吸引了超过1000家机构参与，且最终订单规模逾1000亿欧元。值 得一提的是，本期债券获得了多元化的全球投资者青睐，其中相当比例来自各国央行、主权财富基金及 公营机构；从投资者地域分布上看，亚洲以外地区获配超过65%，充分体现出国际投资界对中国的强劲 信心，以及本次发行在全球市场中的基准地位。 摩根大通环球企业银行大中华区主管黄健进一步表示，在两周前美元债券成功发行的基础上，这次欧元 主权债券的定价是中国为国际投资者提供的另一个具有吸引力的、参与中国经济发展的投资机会，展现 了中国政府进一步深化与国际金融市场互联互通的决心。同时，这一行动将有助于进一步构建中国在国 际市场的欧元债券定价体系，为中资企业未来在 ...