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China Development Bank to issue 30B yuan of benchmark bonds

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China Development Bank to issue 30B yuan of benchmark bonds

China Development Bank will issue 30 billion Chinese yuan of benchmark bonds in four tranches.

The bank said March 5 that it will issue 10 billion yuan of 91-day bonds with a discounted interest rate, 8 billion yuan of five-year bonds priced with a coupon of 4.44%, 5 billion yuan of seven-year bonds priced with a coupon of 4.30% and 7 billion yuan of 10-year bonds priced with a coupon of 4.88%.

The notes will be issued March 12 and listed on China's interbank bond market March 14.

As of March 5, USS$1 was equivalent to 6.35 Chinese yuan.