Core Points - The State Grid Corporation issued a total of 10 billion RMB in offshore senior unsecured dim sum bonds with maturities of 5, 10, and 20 years [1] - The bonds were issued by State Grid Overseas Investment (BVI) Limited, with the State Grid Corporation as the guarantor [1] - The bonds received a rating of A+ from S&P, with initial price guidance set at 2.45%, 2.70%, and 2.95% for the 5, 10, and 20-year bonds respectively, which was later narrowed to 1.90%, 2.20%, and 2.40% [1] - This issuance marks the first time a central enterprise has issued over 10 billion RMB in offshore RMB bonds and the first 20-year bond issuance by a central enterprise, setting new records [1] - The transaction also establishes a new benchmark for the cost of offshore RMB bonds for Chinese enterprises [1]