China sold $3 billion in unrated U.S. dollar-denominated sovereign bonds in Hong Kong, its second such sale in about a year amid global market turmoil and trade frictions with the U.S.

The country sold $1.5 billion of five-year bonds at a coupon rate of 3.25%, $1 billion of 10-year bonds at 3.50%; and $500 million of 30-year bonds at 4.00%, the Ministry of Finance said Oct. 12. The bonds were priced at 30 basis points, 45 basis points and 70 basis points above U.S. Treasurys for the five-, 10- and 30-year notes, respectively, 20 basis points lower than the initial guidance, Reuters reported.

Total subscription from investors exceeded $13 billion, the ministry said.

China picked 12 banks to manage the sale, including Bank of China Ltd., China Construction Bank Corp., Deutsche Bank AG, Goldman Sachs Group Inc., HSBC Holdings PLC and JPMorgan Chase & Co., Reuters said.