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China dim sum bond's price guidance fixed at 3.3 pct area-term sheet
October 20, 2015 / 2:14 AM / 2 years ago

China dim sum bond's price guidance fixed at 3.3 pct area-term sheet

HONG KONG, Oct 20 (Reuters) - China’s central bank is selling a one-year offshore yuan bond in London with initial price guidance in the 3.3 percent area, according to a term sheet seen by Reuters on Tuesday.

The deal will be benchmark size, usually about 1 billion to to 2 billion yuan.

The People’s Bank of China (PBOC) mandated Industrial and Commercial Bank of China (ICBC) and HSBC as joint global coordinators of the deal on Monday.

The two banks, together with Agricultural Bank of China, Bank of China, Bank of Communications, China Construction Bank and Standard Chartered are joint bookrunners and lead managers.

Sources have told Reuters the PBOC plans to issue up to 5 billion yuan ($787 million) of one-year bills in London.

The dim sum bond sale comes as Chinese President Xi Jinping is in Britain for a state visit this week. (Reporting by Michelle Chen; Editing by Eric Meijer)

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