May. 11, 2012 (China Knowledge) - China Development Bank or CDB, one of the three policy banks in the country, yesterday announced plans to issue not more than RMB 20 billion worth of floated-rate bonds with a maturity of seven years on the interbank market on May 15.

In a statement, the lender said coupon rate will be determined in the process of book-building. Both value date and payment due date is set on May 22, and the to-be-issued bills tradable on May 28.

The lender also has option to issue additional bonds in the proposed issue, its 24th financial bond this year.

On Apr. 26, CDB issued its 23rd financial bond of 2012 with a total value of RMB 20 billion and a maturity of five years.  

The lender's 18th, 19th, 20th, 21st and 22nd financial bonds have been issued each with a size of RMB 6 billion. The maturity of these bonds is one year, three years, five years, seven years and ten years, respectively, sources reported.