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China Development Bank to auction off RMB 20 bln bonds

Jan. 30, 2012 (China Knowledge) - China Development Bank or CDB, one of the three policy banks in the country, plans to auction off RMB 20 billion worth of bonds with a maturity of three years on the interbank market on February 1, 2012.

In a statement, the Chinese lender said the bonds carry a floated coupon rate that will be determined in the process of book-building. Both value date and payment due date will be February 3, and the to-be-issued bonds are tradable on February 9.

Distributors will be Chinese banks, Rural Credit Cooperatives and Chinese insurers or other institutes approved by People's Bank of China, said the issuer.

This will be the issuer's fourth three-year bonds this year.

On January 17, the lender issued RMB 30 billion worth of seven-year bonds, of which the value date and payment due date will be both February 1. These bonds will be tradable on February 7, sources reported.

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