China Development Bank plans to raise up to 26 billion yuan via an issuance of benchmark bonds in three tranches.
The bank will issue 4 billion yuan of one-year bonds priced with a coupon of 2.65%, up to 8 billion yuan of five-year bonds priced with a coupon of 3.42% and up to 14 billion yuan of 10-year bonds priced with a coupon of 3.65%.
The bonds will be issued Aug. 9 and listed on China's interbank bond market Aug. 13.
As of Aug. 1, US$1 was equivalent to 6.90 Chinese yuan.
