UK Government launches Rmb3bn three-year Dim Sum at 2.70% yield
LONDON, Oct 14 (IFR) - The UK government (AA1/AAA/AA+) has launched a Rmb3bn (US$490m) three year bond at a yield of 2.70%, according to a deal lead.
This is at the lower end of the 2.75% area (plus or minus 5bp) final price guidance, and compares to an initial level of 2.90% area.
Investor (Other OTC: IVSBF - news) demand for the deal was close to Rmb5bn (US$816m) by 10:10 UK time, according to one of the leads.
Allocations and pricing is expected after global books closed at 14:00 UK time.
Bank of China (HKSE: 3988-OL.HK - news) , HSBC and Standard Chartered (HKSE: 2888.HK - news) are managing the Reg S deal. The bond is unrated. (Reporting By Michael Turner; editing by Sudip Roy)