China Development Bank will issue 23 billion yuan of benchmark bonds in three tranches.
The policy bank said June 7 that it will issue 7 billion yuan of five-year bonds with a coupon of 4.69%, 4 billion yuan of seven-year bonds with a coupon of 4.73% and 12 billion yuan of 10-year bonds with a coupon of 4.88%. The bonds bear fixed interest rates.
The bonds will be issued June 14 and will be listed on China's interbank bond market June 19.
As of June 6, US$1 was equivalent to 6.39 Chinese yuan.
