China Development Bank will issue 29 billion yuan of benchmark bonds in five tranches.
The bank said Dec. 11 that it will issue 5 billion yuan of one-year bonds, 5 billion yuan of three-year bonds, 10 billion yuan of three-year bonds, 5 billion yuan of five-year bonds and 4 billion yuan of seven-year bonds.
The bonds' coupon rate will be determined at auction. The bonds will be issued Dec. 18 and will be listed on China's interbank bond market Dec. 20
As of Dec. 11, US$1 was equivalent to 6.62 Chinese yuan.
