Banking

China to issue 32b yuan book-entry T-bonds

(Xinhua)
Updated: 2010-12-02 10:31

BEIJING - China's Ministry of Finance said Wednesday it would sell 32.1 billion yuan ($4.8 billion) of five-year book-entry treasury bonds beginning on Thursday.

The bonds, the 39th batch to be floated this year, carry a fixed interest rate of 3.64 percent and will be sold to the public from Dec 2 to Dec 6, the ministry said in a statement posted on its website.

Further, these bonds will become tradable on Dec 8 through the national inter-bank bond market and over the counter at designated commercial banks.

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In another statement, the ministry said it would float 20 billion yuan of certificate T-bonds, the fifth batch of this year, from Dec 6 to Dec 20.

The bonds include 4 billion yuan of one-year bonds with a fixed annual interest rate of 2.85 percent, 10 billion yuan of three-year bonds with an annual interest rate of 4.25 percent, and 6 billion yuan of five-year bonds with an annual interest rate of 4.6 percent.

Also, interest will be calculated from the day of purchase and principal and interest will be paid upon maturity, the ministry said.