China sets $1bn landmark but fails to lift Asia gloom

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China sets $1bn landmark but fails to lift Asia gloom

December 11, 1998 12:00 AM

THE PEOPLE'S Republic of China posted a landmark transaction for Asia this week with the launch of an increased $1bn 10 year global bond.Despite scepticism over the true placement of the Credit Suisse First Boston and Goldman Sachs led deal, participants claimed that the ability to complete such a large and long dated transaction so close to year end -- and eight months after the last Asian sovereign transaction -- marked a substantial achievement.

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