China Development Bank plans to issue 17 billion yuan of benchmark bonds in three tranches.
The bank said Feb. 28 that it will issue 6 billion yuan of one-year bonds with a coupon of 4.14% per year, 4 billion yuan of two-year bonds with a coupon of 4.53%, and 7 billion yuan of three-year bonds with a coupon rate to be determined at auction.
The notes will be issued and settled March 9 and listed on China's interbank bond market March 13.
As of Feb. 28, USS$1 was equivalent to 6.33 Chinese yuan.
