SYDNEY, Nov 19 (Reuters) - China has raised 4 billion

euros ($4.6 billion) in a two-tranche bond issuance with strong

demand from investors despite a spike in global market

volatility, according to a term sheet reviewed by Reuters on

Wednesday.

A four-year tranche raised 2 billion euros at the mid-swap

rate plus 5 basis points, the term sheet showed. The initial

price guidance was mid-swap plus 28 basis points.

A seven-year tranche raised 2 billion euros at the mid-swap

rate plus 13 basis points, compared to an initial price guidance

of mid-swap plus 38 basis points.

The bonds, issued through China's Ministry of Finance, were

26 times oversubscribed with demand of more than 100 billion

euros, according to people familiar with the matter.

The finance ministry did not immediately respond to a faxed

request for comment.

A fresh bout of risk-off sentiment that has swept global

markets in the past three days hasn't dissuaded investors from

buying the bonds.

The selloff in stock markets this week comes as investors

await Nvidia Corp's ( NVDA ) earnings on Wednesday and key U.S.

economic data, including the September non-farm payroll figures,

due out on Thursday.

A high-grade sovereign issuer like China was attractive to

investors during periods of market volatility, according to

bankers who worked on the deal.

The euro issuance came two weeks after China raised $4

billion in a dollar transaction which drew demand nearly 30

times the size of the deal.

China raised 2 billion euros in bonds in September last

year, where demand was eight times larger than the deal size.

An easing in U.S.-China trade and geopolitical tensions

helped by a meeting between President Donald Trump and his

Chinese counterpart Xi Jinping in South Korea in late October

had prompted international investors to invest in China again,

bankers said.

($1 = 0.8635 euros)