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China Development Bank to issue 18B yuan of benchmark bonds

China Development Bank Corp. plans to issue 18 billion yuan of benchmark bonds in three tranches.

The bank said June 8 that it will issue 4 billion yuan of one-year bonds priced with a coupon of 3.20%, 4 billion yuan of three-year bonds priced with a coupon of 3.88% and 10 billion yuan of 10-year bonds priced with a coupon of 4.04%.

The issue and settlement date for the one-year bonds is June 16 and they will be listed on China's interbank bond market on June 20. The issue and settlement date for the three-year and 10-year bonds is June 15 and they will be listed on June 19.

As of June 8, US$1 was equivalent to 6.79 Chinese yuan.