May. 25, 2012 (China Knowledge) - China Development Bank or CDB, one of the three policy banks in the country, yesterday announced plans to auction not more than RMB 20 billion worth of floating-rate bonds with a maturity of five years on the interbank market on May 29.

Both value date and payment due date is set on Jun. 4, and the to-be-issued bonds tradable on Jun. 8.

Interest will be paid annually. This will be the 25th financial bond issued by the lender this year.

On May 15, CDB auctioned RMB 20 billion of floating-rate financial bonds with a maturity of seven years. The coupon rate of the bonds was 4.22% (one-year time deposit interest rate plus spread of 0.72%).