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China Development Bank to issue 22B yuan of bonds

China Development Bank is set to issue 22 billion Chinese yuan of fixed-rate benchmark bonds in three tranches.

The bank said Feb. 5 that it will issue 7 billion yuan of one-year, 4.14% bonds, 7 billion yuan of two-year, 4.53% bonds and 8 billion yuan of three-year, 4.14% bonds. The bonds will be issued Feb. 12.

As of Feb. 5, US$1 was equivalent to 6.29 Chinese yuan.