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China Development Bank to raise 18B yuan in bond issuances

China Development Bank Corp. plans to raise 18 billion yuan by increasing the sizes of its five existing bonds, the bank said Dec. 8.

It plans to raise 3 billion yuan from its three-year 2.65% bond in the 15th tranche, 3 billion yuan from its five-year 3.43% bond in the 18th tranche, 3 billion yuan from its seven-year 3.24% bond in the 7th tranche, 6 billion yuan from its 10-year 3.05% bond in the 13th tranche and 3 billion yuan in the 20-year 3.80% bond in the 5th tranche.

As of Dec. 9, US$1 was equivalent to 6.90 Chinese yuan.