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China Development Bank to raise up to 22B yuan in benchmark bonds

China Development Bank plans to raise up to 22 billion Chinese yuan from three benchmark bonds.

The bank said Aug. 12 that it will issue up to 6 billion yuan of five-year bonds priced with a coupon of 3.42%, up to 13 billion of 10-year bonds priced with a coupon of 3.65% and 3 billion yuan of two-year bonds priced with a coupon of 2.85%.

The bonds will be issued Aug. 15 and will be listed on China's interbank bond market Aug. 19.

As of Aug. 12, US$1 was equivalent to 7.06 Chinese yuan.