China Development Bank Corp. plans to issue 30 billion Chinese yuan of benchmark bonds in four tranches.
The bank will issue 5 billion yuan of three-year bonds priced with a coupon of 3.88%, 7 billion yuan of five-year bonds priced with a coupon of 4.02%, 4 billion yuan of seven-year bonds priced with a coupon of 3.85% and 14 billion yuan of 10-year bonds priced with a coupon of 4.04%.
The bonds will be issued Aug. 10 and listed on China's interbank bond market Aug. 14.
As of Aug. 2, US$1 was equivalent to 6.72 Chinese yuan.