China Is Prepping Its First U.S. Dollar Bond Sale in Over a Decade
China's government wants to sell $2 billion in bonds.
China's government is preparing to sell $2 billion in U.S. bonds this month, the first time it has sold U.S.-dollar sovereign bonds in more than a decade.
The planned sale isn't large and is mostly symbolic, according to the Wall Street Journal. The sale would be the largest U.S. bond sale in China's history and the first time since October 2004 when the country raised about $1.7 billion.
China has about $200 million in outstanding U.S.-dollar sovereign debt issues that it is scheduled to pay off in 2017 and 2096.
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