State Grid Raises 14.9 Billion Yuan in Dim Sum Bonds as Orders Hit 193.8 Billion
Updated
Updated · South China Morning Post · Aug 18
State Grid Raises 14.9 Billion Yuan in Dim Sum Bonds as Orders Hit 193.8 Billion
3 articles · Updated · South China Morning Post · Aug 18
Summary
State Grid sold 14.9 billion yuan of dim sum bonds across five-, 10- and 20-year tranches, with record orders reaching 193.8 billion yuan—more than 13 times the amount offered.
Yields came in at 1.86% for 3.9 billion yuan of five-year bonds, 2.18% for 7 billion yuan of 10-year notes and 2.46% for 4 billion yuan of 20-year debt, reflecting lower offshore yuan borrowing costs.
Longer maturities and cheaper funding are drawing more issuers into Hong Kong’s offshore yuan market, signaling a new phase of expansion for dim sum bonds.
Nearly 500 billion yuan of offshore yuan bonds were sold in the first seven months of 2026, while Bank of China said it underwrote more than 100 billion yuan in the period.