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China to issue $4b treasury bonds

(Xinhua)
Updated: 2009-05-20 20:16

China's Ministry of Finance (MOF) said Wednesday it would issue 27.3 billion yuan ($4 billion) of three-year book-entry treasury bonds, the ninth batch of its type this year.

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The bonds have a fixed annual interest rate of 1.55 percent and will be sold from May 21 to 25, said the MOF.

Interest will be paid annually. The principal will be paid upon maturity on May 21, 2012.

The MOF would issue a total of 28.5 billion yuan of local government bonds in the first half of May on behalf of six local governments, which would include Dalian city, Sichuan province and Hubei province.

China planned to float a total of 200 billion yuan of local government bonds this year.