The Ministry of Finance of the People’s Republic of China issued RMB-denominated sovereign bonds successfully today (16 July) in Macao. The Monetary Authority of Macao congratulates the successful issuance of sovereign bonds and expresses sincere gratitude to the Ministry of Finance for its long-term support to the development of bond market in Macao. The sovereign bonds issuance is offered to the professional investors, with an issuance size of RMB 6 billion, comprising tranches of RMB 3 billion 2-year sovereign bonds with a coupon rate of 1.43%, RMB 2 billion 5-year sovereign bonds with a coupon rate of 1.55% and RMB 1 billion 10-year sovereign bonds with a coupon rate of 1.72%. The issuance of sovereign bonds was highly welcomed by the market and recorded an over subscription.

The Ministry of Finance has issued RMB-denominated sovereign bonds for the fourth consecutive year in Macao, demonstrates clearly the Central Government’s support to Macao in expediting the cultivation of bond market and other new financial businesses, while advancing the appropriate diversification of the economy. The Ministry of Finance increased the issuance size and introduced a longer tenor sovereign bonds for this issuance. To date, the cumulative issuance of sovereign bonds by the Ministry of Finance in Macao has reached RMB 21 billion. The continuous issuance of RMB-denominated sovereign bonds in Macao is conducive to further optimise the regular issuance mechanism, broadening the investor base and promoting the robust development of offshore renminbi market in Macao.