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China Merchants Bank issues 20B yuan of small enterprise bonds

China Merchants Bank Co. Ltd. issued 20 billion yuan of small enterprise bonds

The three-year bonds carry a coupon of 3.33% per year. They were issued Sept. 24.

The proceeds from the issuance will be used for lending to small- and micro-sized businesses.

As of Sept. 25, US$1 was equivalent to 7.13 Chinese yuan.