(Bloomberg) -- China began marketing its first euro-denominated bond in three years, in a week when global investors have been riveted by a string of steps by the nation to revive its slowing economy.
The Ministry of Finance is offering the deal in two parts: a three-year tenor with initial price guidance of about 45 basis points above mid swaps, and a seven-year portion at about 65 basis points above that same reference, according to person familiar with the matter.
The proceeds will be used for general governmental purposes, and the sale may price today, the person said, asking not to be identified.
Traders have pushed up the price of Chinese assets after the country embarked on some of its most notable stimulus measures in years to revive the world’s second-largest economy.
The central bank on Wednesday lowered the interest rate charged on its one-year policy loans. That came after Governor Pan Gongsheng and other top financial officials unveiled a series of easing measures Tuesday that included more cash for banks, bigger incentives to buy homes and plans to consider a stock stabilization fund.
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