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Belt and Road

AIIB's $2.5bn bond market debut draws high demand

China-led development bank to spend funds on transport, water and clean energy

The AIIB, based in Beijing, wants to raise money for infrastructure projects from global investors.   © Reuters

LONDON -- The China-led Asian Infrastructure Investment Bank is looking to cement its presence in the global capital market after pricing its first foreign currency-denominated bonds on Thursday.

The development bank's $2.5 billion worth of five-year dollar bonds will have a coupon rate of 2.25% per annum. The bonds, which closed on Thursday afternoon London time, attracted over $4.4 billion in orders from 27 countries -- nearly twice the estimated figures.

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