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China Development Bank to issue up to 24B yuan of benchmark bonds

China Development Bank plans to raise up to 24 billion yuan through the issuance of fixed-rate benchmark bonds.

The bank said Jan. 9 that it would issue up to 9 billion yuan of five-year bonds with a coupon of 3.76% and up to 15 billion yuan of 10-year bonds with a coupon of 3.48%.

The bonds will be issued Jan. 14.

As of Jan. 9, US$1 was equivalent to 6.81 Chinese yuan.