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China Development Bank to issue up to 11B yuan of benchmark bonds

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China Development Bank to issue up to 11B yuan of benchmark bonds

China Development Bank is planning to issue up to 11 billion yuan of benchmark bonds in two tranches.

The policy lender said May 28 that it would issue up to 7 billion yuan of five-year bonds with a coupon of 4.69% and up to 4 billion yuan of seven-year bonds with a coupon of 4.73%.

The bonds will be issued June 4 and listed on China's interbank bond market June 6.

As of May 28, US$1 was equivalent to 6.40 Chinese yuan.