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China Development Bank to raise up to 8B yuan through bonds

China Development Bank plans to raise up to 8 billion yuan via the issuance of financial bonds in two tranches.

The policy bank will issue up to 5 billion yuan of two-year bonds with a 3.78% coupon and up to 3 billion yuan of five-year bonds with a 3.91% coupon.

The payment date is Oct. 17, the lender said in a release that was made available Oct. 9.

As of Oct. 9, US$1 was equivalent to 6.63 Chinese yuan.