China Tests Markets With Biggest Offshore Bond Sale Since 2016

(Bloomberg) — China will launch its largest offshore yuan sovereign bond sale in six years, testing global appetite during a debt market rout and a stream of outflows as global funds offload Chinese government notes.

The Ministry of Finance will auction 7.5 billion yuan ($1.1 billion) of the central government bonds across two, three and five-year maturities on Wednesday, the first of four batches totaling 23 billion yuan planned for this year in Hong Kong, denominated in the offshore currency.