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China Development Bank to issue 15B yuan of benchmark bonds

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China Development Bank to issue 15B yuan of benchmark bonds

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.