China’s railways ministry has raised $783 million through a sale of private bonds, Manila Bulletin reports. The five-year medium-term notes carry a coupon rate of 5.93 percent.
Industrial & Commercial Bank of China and Bank of China were the main underwriters. The ministry also intends to sell $1.56 billion worth of seven-year bonds and $1.56 billion worth of 20-year bonds through a public offering.
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