The Ministry of Finance announced in a statement yesterday that the valuation of the 3-year treasury bonds denominated in Chinese yuan, the so-called Panda bonds, mature on October 15, 2024. “The face value was 3 billion yuan and profitability was 3.20% annually. The transaction will be settled on October 15 this year.” – It was written.
It was added that at the same time a hedge swap deal was concluded, in which the money obtained was exchanged into euros and future cash flows related to bond servicing were secured and redeemed.
“The final profitability of the issuance after conversion to the euro was negative at -0.104 percent per annum” – says the ministry.
According to the ministry, the order was executed on the Chinese interbank market on the basis of an issuance program registered by NAFMII (National Association of Institutional Investors in Financial Markets). The bonds were placed among Chinese institutional investors.
The following banks acted as managers of the issuing consortium: Industrial and Commercial Bank of China, JP Morgan AG, Bank of China Limited, and China Construction Bank Corporation.
The yield on Polish 10-year Treasuries exceeded 2.2%. September ended with the highest month-end close in more than two years. The decline in bond prices was also accompanied by selling in the precious metals market.
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