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China Development Bank looks to raise 12.5B yuan in bonds

China Development Bank plans to raise a total of 12.5 billion yuan by increasing the size of three existing bond tranches, the bank said Dec. 19.

The three tranches are its 10-year bond in the 13th tranche, three-year bond in the 15th tranche and five-year bond in the 18th tranche.

It originally planned to upsize two other bond tranches as well, but the plan was scrapped with no further details.

As of Dec. 21, US$1 was equivalent to 6.95 Chinese yuan.