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China launches U.S. dollar bond deal - term sheet

HONG KONG, Oct 14 (Reuters) - China launched on Wednesday a U.S. dollar sovereign bond deal, according to a term sheet reviewed by Reuters that sources said aims to raise up to $6 billion.

The bonds would be sold in three-, five-, 10- and 30-year tranches, the term sheet showed, with the size and price of the transactions to be finalised later on Wednesday.

The initial price guidance has been set at U.S. Treasuries plus 50 basis points for the three-year tranche, 60 basis points for 5 years, 75 basis points for 10 years and 110 basis points for 30 years, the term sheet showed.

Four sources told Reuters earlier the deal aimed to raise up to $6 billion. The sources could not be named as the information has not yet been made public.

It would be the first time China has offered a bond deal to U.S.-based investors.

Reporting by Scott Murdoch in Hong Kong; Editing by Jacqueline Wong

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