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China to float $3.8 billion in one-year T-bonds

(Xinhua)
Updated: 2008-09-05 19:50

The Ministry of Finance said on Friday that it would float 25.99 billion yuan ($3.8 billion) worth of book-entry treasury bonds, the 16th batch of its kind this year.

This issue will bring such book-entry T-bonds to a total of 423 billion yuan so far this year.

The ministry said in a statement that the one-year bonds have a fixed interest rate of 3.34 percent.

The bonds will be issued from September 8-10 and begin trading on September 12.

Interest will be calculated on September 8, with principal and interest to be paid in full at maturity.

The ministry also announced on Friday that it plans to start accepting bids for another batch of book-entry T-bonds on September 12, with the planned issue worth 26 billion yuan.

Launch of that issue will begin on September 16 and end on September 18.