China Development Bank To Auction CNY20B 10-Year Bonds Oct 9

China Development Bank To Auction CNY20B 10-Year Bonds Oct 9

SHANGHAI (Dow Jones)--China Development Bank plans to auction CNY20 billion worth of 10-year floating-rate bonds on the interbank bond market Oct.

9, the policy lender said Thursday. The bonds' reference rate will be based on the one-year deposit rate, which is now 3.87%, the lender said in a statement posted on ChinaBond, an official Web site for bond issues. Holders can redeem the bonds at face value on Oct.

15, 2012, the policy bank said, adding that it may increase the bond sale by up to CNY10 billion if there is sufficient market demand. China Development Bank is the country's second-biggest issuer of bonds behind the Ministry of Finance. -Wang Ming contributed to this story; Dow Jones Newswires; (86-21) 6120-1200; ming.wang@dowjones.com (END) Dow Jones Newswires
From: FXPR.com