Jun. 8, 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 ten years on the interbank market on Jun. 12.

Both value date and payment due date is set on Jun. 18, and the to-be-issued bonds tradable on Jun. 22.

Interest will be paid annually. This will be the 26th financial bond issued by the lender this year.

On May 29, CDB auctioned RMB 20 billion of floating-rate financial bonds with a maturity of five years. The coupon rate of the bonds was 3.96% (one-year time deposit interest rate plus spread of 0.46%).