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China Development Bank to raise 10B yuan via bonds

China Development Bank plans to raise 10 billion Chinese yuan through the issuance of bonds in two tranches.

The policy lender plans to raise 4 billion yuan by issuing bonds carrying a 3.03% coupon rate. The notes will be issued March 26 and will mature Jan 18, 2022.

China Development Bank will also issue 6 billion yuan worth of bonds with a 3.68% coupon rate on March 26, which will mature Feb. 26, 2026.

Both tranches will be listed March 28.

As of March 19, US$1 was equivalent to 6.71 Chinese yuan.