By Scott Murdoch

HONG KONG (Reuters) – China has raised $4 billion through a U.S. dollar sovereign bond issue, according to a term sheet seen by Reuters.

The pricing for the deal was set at Treasuries plus 6 basis points for the three-year tranche, 12 basis points for five years, 23 basis points for 10 years and 53 basis points for the 30-year tranche.

The three- and 10-year tranches each raised $1 billion, the 5-year raised $1.5 billion and 30-year $500 million, the term sheet showed.

Final pricing for the deal was significantly lower than first flagged.

Initial pricing guidance was given to investors at 35 basis points over Treasuries for the three-year tranche, 45 basis points on the five-year tranche, 55 basis points on the 10-year tranche and 85 basis points on the 30-year tranche.

Demand from investors during the Asian trading session on Tuesday was $15 billion, nearly four times the deal size, Reuters reported.

The bond offering came as the world’s second-largest economy hit its slowest pace of growth in a year in the third quarter, hurt by power shortages and wobbles in the property sector.