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China Development Bank to issue 11B yuan of benchmark bonds

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China Development Bank to issue 11B yuan of benchmark bonds

China Development Bank will issue 11 billion yuan of benchmark bonds in three tranches.

The bank said May 31 that it will issue 3 billion yuan of one-year bonds priced with a coupon of 3.57%, 3 billion yuan of three-year bonds priced with a coupon of 4.07% and 5 billion yuan of five-year bonds priced with a coupon of 4.69%.

The one-year and three-year bonds will be issued June 8 and will be listed on China's interbank bond market June 12, while the five-year bonds will be issued June 7 and will be listed June 11.

As of May 31, US$1 was equivalent to 6.41 Chinese yuan.