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Chongqing Rural Commercial Bank to issue 2B yuan of bonds

Chongqing Rural Commercial Bank Co. Ltd. plans to issue 2 billion yuan of bonds.

The bonds, which will be issued Jan. 13, will carry a tenor of three years. The coupon rate has yet to be determined.

Proceeds from the issuance will be used for agricultural loans.

As of Jan. 6, US$1 was equivalent to 6.98 Chinese yuan.