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China Development Bank to issue 21B yuan of bonds

China Development Bank plans to offer 21 billion yuan of fixed-rate bonds in three tranches.

The policy lender said May 11 that it will issue 4 billion yuan of one-year bonds with a 3.57% coupon, 5 billion yuan of three-year bonds with a 4.07% coupon and 12 billion yuan of 10-year bonds with a 4.88% coupon.

The bonds will be issued May 17.

As of May 11, US$1 was equivalent to 6.33 Chinese yuan.