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China to float $4b book-entry T-bonds this week

(Xinhua)
Updated: 2009-08-06 10:09

China's Ministry of Finance announced Wednesday that it would issue a batch of book-entry treasury bonds worth 27.58 billion yuan ($4 billion) this week, the 18th such issue this year.

Related readings:  China to complete 200b yuan local govt bond issues next month  Govt mulls HK$50b bond issue in Sept  Active demand lowers yield of 10-year treasury bond  China announces treasury bond issues for May 7-25

According to the ministry's statement, the batch of T-bonds, with a term of five years, has a fixed annual interest of 2.97 percent.

The T-bonds will be sold to the public during the period between August 6 and August 10, with interests to be calculated as from August 6 this year and paid annually.

The bonds will become tradable on August 12 through the national interbank bond market and over the counters of designated commercial banks, the ministry said.