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China Development Bank to issue 9B yuan of benchmark bonds

China Development Bank Corp. will issue 9 billion yuan of benchmark bonds in two tranches.

The bank said June 2 that it will issue 4 billion yuan of one-year bonds priced with a coupon of 3.20% and 5 billion yuan of five-year bonds priced with a coupon of 4.19%.

The bonds will be issued June 12 and will be listed in China's interbank bond market June 14.

As of June 2, US$1 was equivalent to 6.82 Chinese yuan.