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China Development Bank to issue 11B yuan of benchmark bonds

China Development Bank plans to issue 11 billion yuan of benchmark bonds in two tranches.

The policy lender said in a June 20 release that it would issue 4 billion yuan of seven-year bonds with a coupon of 4.73% and 7 billion yuan of five-year bonds with a coupon of 4.69%.

The bonds will be issued June 25 and listed on China's interbank bond market June 27.

As of June 20, US$1 was equivalent to 6.47 Chinese yuan.