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China Minsheng Banking issues 20B yuan of bonds

China Minsheng Banking Corp. Ltd. issued 20 billion yuan of three-year financial bonds.

The bonds bear a fixed coupon rate of 3.76%, the bank said Dec. 14.

The bank said it will use the bonds' proceeds to provide loans to small and micro enterprises.

As of Dec. 14, US$1 was equivalent to 6.91 Chinese yuan.