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China Development Bank to raise 10B yuan from existing bond issuances

China Development Bank Corp. plans to raise not more than 10 billion yuan on Dec. 27 from increasing the size of two existing tranches, the policy bank said Dec. 20.

The bank looks to raise 6.5 billion yuan from its 13th-tranche 10-year bond, and 3.5 billion yuan from its 18th-tranche five-year bond.

As of Dec. 20, US$1 was equivalent to 6.95 Chinese yuan.