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China Development Bank to issue 21B yuan of benchmark bonds

China Development Bank plans to issue 21 billion yuan of benchmark bonds in three tranches.

The policy lender said March 19 that it will issue 8 billion yuan of three-year bonds priced with a coupon of 4.62%, 5 billion yuan of seven-year bonds with a coupon of 4.30% and 8 billion yuan of ten-year bonds with a coupon of 4.88%.

The bonds will be issued March 26 and will be listed on China's interbank bond market March 28.

As of March 19, US$1 was equivalent to 6.33 Chinese yuan.