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China Development Bank to issue 17B yuan of benchmark bonds

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China Development Bank to issue 17B yuan of benchmark bonds

China Development Bank plans to issue 17 billion yuan of benchmark bonds in three tranches.

The bank said Feb. 28 that it will issue 6 billion yuan of one-year bonds with a coupon of 4.14% per year, 4 billion yuan of two-year bonds with a coupon of 4.53%, and 7 billion yuan of three-year bonds with a coupon rate to be determined at auction.

The notes will be issued and settled March 9 and listed on China's interbank bond market March 13.

As of Feb. 28, USS$1 was equivalent to 6.33 Chinese yuan.