China Development Bank Corp. will issue 15 billion yuan of benchmark bonds in three tranches.

The bank said May 26 that it will issue 4 billion yuan of three-year bonds priced with a coupon of 3.88%, 4 billion yuan of five-year bonds priced with a coupon of 4.02% and 7 billion yuan of 10-year bonds priced with a coupon of 4.04%.

The three-year bonds will mature April 19, 2020, while the five-year bonds will mature April 17, 2022. The 10-year bonds have a maturity date of April 10, 2027.

The bonds will be issued June 5 and will be listed on China's interbank bond market June 7.

As of May 26, US$1 was equivalent to 6.86 Chinese yuan.