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China MOF to issue RMB 30 bln in T-bonds

May. 7, 2012 (China Knowledge) – China's Ministry of Finance (MOF) said it will issue this year's third and fourth savings bonds with a total of RMB 30 billion from May 10 to May 23, according to an online statement released by the MOF last Friday.

The third tranche will make up of RMB 21 billion with a maturity of three years, and the fourth is RMB 9 billion bonds with a maturity of five years. Coupon rate for these two bonds will be 5.58% and 6.15%, respectively.

Interest will be calculated from May 10 and be paid annually, said the MOF.

The coupon rate of three-year bonds is 0.58 percentage points higher than the three-year deposited rate of 5% and the five-year bonds is upper 0.65 percentage points than the five-year deposited rate of 5.5%, sources reported.






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