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China Development Bank to issue 7B yuan of benchmark bonds

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China Development Bank to issue 7B yuan of benchmark bonds

China Development Bank plans to issue 7 billion yuan of benchmark bonds in two tranches.

One comprises 3 billion yuan of three-year notes with an annual coupon of 3.18% while the other comprises 4 billion yuan of seven-year notes with a 3.50% coupon.

The bonds are set to be issued Aug. 27, the policy lender said in an Aug. 19 release.

They will be listed on China's interbank bond market Aug. 29.

As of Aug. 19, US$1 was equivalent to 7.05 Chinese yuan.