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China to issue 13.1b yuan local bonds

(Xinhua)
Updated: 2009-05-14 10:23

China's Ministry of Finance said Wednesday it would issue 13.1 billion yuan ($1.92 billion) of three-year local government bonds from May 14 to 18 on behalf of three provinces at a fixed annual coupon rate of 1.71 percent.

Related readings:  China announces treasury bond issues for May 7-25  Local govt bond issuers may tweak coupon rates  Quake-zone govt to issue $1.32B bond  China approves more corporate bond issuance in Q1

The plan allocates 3.1 billion yuan for Hubei province, 9 billion yuan for Sichuan province and 1 billion yuan for Dalian city in Liaoning province.

The three local bonds will begin trading on May 20.

The ministry would also issue a batch of book-entry T-bonds of 28.6 billion yuan, the eighth of its kind this year.

The one-year, short-term bonds have a fixed annual coupon interest of 0.89 percent, with the selling period lasting from May 14 to 18. Trading begins on May 20.