China Development Bank plans to raise 22 billion Chinese yuan by issuing benchmark bonds.

The bank said in an Oct. 18 release that it will issue 4 billion yuan of three-year bonds priced with a 3.18% coupon, 6 billion yuan of five-year bonds with a 3.42% coupon and 12 billion yuan of 10-year bonds with a 3.45% coupon.

The three- and 10-year bonds are set to be issued Oct. 23, and listed on China's interbank bond market Oct. 25, while the five-year bonds will be issued Oct. 25 and listed Oct. 29.

As of Oct. 18, US$1 was equivalent to 7.08 Chinese yuan.