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China Development Bank to raise up to 26B yuan via bonds

China Development Bank plans to raise up to 26 billion yuan via an issuance of bonds in three tranches.

The Chinese policy bank will issue up to 6 billion yuan of three-year bonds priced with a 4.14% coupon and up to 15 billion yuan of 10-year bonds priced with a coupon of 4.24%.

The lender will also issue up to 5 billion yuan of one-year bonds, with the coupon to be determined.

The three- and 10-year tranches will be listed on China's interbank bond market on Oct. 23, while the one-year tranche will be listed on Oct. 24.

As of Oct. 11, US$1 was equivalent to 6.59 Chinese yuan.