Beijing Stock Exchange Lists First Corporate Bond Issued by Sovereign Wealth Fund

What’s new: Beijing State-Owned Assets Management Co. Ltd., a sovereign wealth fund owned by Beijing municipal government, sold $141 million of bonds on Beijing Stock Exchange Wednesday, the first corporate bond issuance on the exchange.

The three-year bond carries a coupon rate of 2.55%, the lowest rate of the same-term bonds issued by Beijing state-owned enterprises in the past three years. The bond was subscribed 3.88 times.