China c.bank sells 20 bln yuan of offshore bills in Hong Kong


SHANGHAI, May 15 (Reuters) - The People's Bank of China sold 20 billion yuan ($2.91 billion) of bills in Hong Kong on Wednesday, its third sale of offshore yuan bonds in the city.

A 10 billion yuan three-month tranche was priced at a coupon of 3%, while a one-year tranche, also worth 10 billion yuan, came in with a coupon of 3.1%, the central bank said in a statement.

Bids topped 100 billion yuan, and investors included commercial banks, investment banks, central banks, funds and international financing institutions, the PBOC said.

The PBOC sold its first 20 billion yuan batch of yuan-denominated bills in Hong Kong in November, attracting bids of about 75 billion yuan.

($1 = 6.8725 Chinese yuan)

This article appears in: World Markets , Economy , 401k , Banking and Loans , Retirement , Bonds

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