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.