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China's Zhongyuan Bank raises 1.5B yuan in debt issue

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China's Zhongyuan Bank raises 1.5B yuan in debt issue

China's Zhongyuan Bank Co. Ltd. raised 1.5 billion yuan in a bond issue in the national interbank bond market.

The three-year bonds carry a coupon rate of 4.79%, the bank said May 23.

The bank will use proceeds of the issuance to lend to innovation and entrepreneurship enterprises.

As of May 23, US$1 was equivalent to 6.39 Chinese yuan.