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China Development Bank to issue 23B yuan of benchmark bonds

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China Development Bank to issue 23B yuan of benchmark bonds

China Development Bank plans to issue 23 billion yuan of benchmark bonds in three tranches.

The bank said March 8 that it will issue 6 billion yuan of one-year bonds priced with a coupon of 4.14%, 8 billion yuan of three-year bonds priced with a coupon of 4.62% and 9 billion yuan of 10-year bonds priced with a coupon of 4.88%.

The bonds will be issued March 15 and listed on China's interbank bond market on March 19.

As of March 8, US$1 was equivalent to 6.34 Chinese yuan.