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China Development Bank to raise 15B yuan in bond issue

China Development Bank plans to raise 15 billion yuan by issuing benchmark bonds in three tranches.

The policy bank said Nov. 8 that it will issue up to 5 billion yuan each of three-year bonds with a 3.68% coupon, seven-year bonds with a 4.15% coupon and one-year bonds with a coupon of 2.62%. The bonds will be issued Nov. 15.

As of Nov. 7, US$1 was equivalent to 6.92 Chinese yuan.