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.