China Development Bank plans to issue 15 billion yuan of benchmark bonds in three tranches.
The policy lender said March 14 that it will issue 5 billion yuan of one-year bonds priced with a coupon of 4.14%, 4 billion yuan of two-year bonds priced with a coupon of 4.53% and 6 billion yuan of five-year bonds with a coupon rate to be determined at auction.
The bonds will be issued March 23 and listed on China's interbank bond market on March 27.
As of March 14, US$1 was equivalent to 6.32 Chinese yuan.
