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China Development Bank to auction RMB 22 bln bonds

Mar. 19, 2012 (China Knowledge) - China Development Bank or CDB, one of the three policy banks in the country, announced today that it plans to auction RMB 22 billion worth of financial bonds on Mar. 22.

The lender said that the bonds, this year's 14th such bonds issued by the policy bank, will have a maturity of five years and carry a fixed rate.

Payment due date and value date will be Mar. 26 and the bonds tradable on Mar. 30.

Interest of the bonds will be paid annually.

CDB today auction two tranches of bonds worth a total of RMB 46 billion. The bank auctioned this year's 12th financial bonds worth RMB 26 billion. The floating-rate bonds have a maturity of three years with a coupon rate of 3.99% and a spread of 0.49%.

In addition, the bank auctioned this year's 13th bonds worth RMB 20 billion. The fixed-rate bonds have a maturity of ten years with a coupon rate of 4.21%.

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