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China to float over 24b yuan in 3-year T-bonds

(Xinhua)
Updated: 2008-07-11 22:46

BEIJING  -- China's Ministry of Finance said on Friday it would float 24.59 billion yuan (3.62 billion US dollars) worth of three-year, book-entry treasury bonds next week.

Related readings:  China 'draws lessons' from US financial turbulence  China to float 20b yuan treasury bonds  Wen: China worried about US financial woes  China to float more than 27 bn yuan in T-bonds

The bonds, the 11th batch of its kind this year, had a fixed annual interest rate of 3.92 percent, the ministry said in a statement on its website.

The bonds would be issued from July 14 to July 17, and trading would begin on July 21.

Interest would be calculated starting from July 14 and paid annually, with the principal to be returned upon maturity on July 14, 2011.

The ministry planned to issue eight new batches of book-entry bonds between July and September.