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China to float two batches of book-entry T-bonds

(Xinhua)
Updated: 2009-08-08 10:34

China's Ministry of Finance announced Friday it will issue two batches of book-entry treasury bonds with a total face value of 25 billion yuan ($3.67 billion) next week.

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The ministry said one batch, with a face value of 10 billion yuan would have a term of 91 days, and the issue price, set by bidding, was 99.674 yuan for a face value of 100 yuan.

The other batch, with a face value of 15 billion yuan, will have a term of 273 days, and the issue price was set at 98.796 yuan for 100 yuan, with an annual yield of 1.64 percent.

The two batches of T-bonds will begin three-day selling on Aug 10, with interest to be calculated on the same day. Both T-bonds will become tradable on Aug 14.