China Development Bank plans to issue 17 billion Chinese yuan of benchmark bonds in three tranches.

The bank said March 23 that it will issue 5 billion yuan of seven-year bonds priced with a coupon to be determined at auction, 4 billion yuan of two-year bonds priced with a coupon of 4.53% and 8 billion yuan five-year bonds priced with a coupon of 4.69%.

The bonds will be issued April 2 and listed on China's interbank bond market on April 4.

As of March 23, US$1 was equivalent to 6.31 Chinese yuan.