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China Development Bank to issue 21B yuan worth of bonds

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China Development Bank to issue 21B yuan worth of bonds

China Development Bank plans to raise 21 billion yuan by issuing benchmark, fixed-rate bonds.

The bank said that it will issue the bonds in five tranches. A bond tranche amounting to 4 billion yuan was priced with a coupon of 3.83%. The maturity date is Oct. 20, 2018. The bank also will issue a 5 billion-yuan tranche of 3.20% bonds due Jan. 23, 2018.

In addition, the bank will issue three tranches of bonds amounting to 4 billion yuan each with coupons of 4.14%, 4.44% and 4.30%, with maturity dates of Sept. 11, 2020, Nov. 9, 2022, and Aug. 21, 2024.

The bonds will be issued Dec. 25.

As of Dec. 15, US$1 was equivalent to 6.61 Chinese yuan.