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.
