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China to float $3.66b T-bonds

(Xinhua)
Updated: 2009-09-05 17:12

China's Ministry of Finance announced Friday it would issue two batches of book-entry treasury bonds with a face value of 25 billion yuan ($3.66 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, with an issue price set at 99.71 yuan after bidding for a face value of 100 yuan. The annual interest rate would be 1.19 percent.

The other batch, with a face value of 15 billion yuan, will have a term of 273 days, and an issue price set at 98.992 yuan for 100 yuan, with an annual interests of 1.37 percent.

The T-bonds will begin three-day sales on September 7, with interest calculated on the same day. They will become tradable on September 11.