Special Report:Global Financial Crisis
BEIJING, April 10 (Xinhua) -- China's Ministry of Finance (MOF) announced
Friday that it will issue a total of 5.8 billion yuan (about 849.2 million U.S.
dollars) of local government bonds on behalf of China's western Chongqing
Municipality on April 13.
The bonds, which are the fifth of its kinds in China, will take the form of
book-entry national treasury bonds and be sold to investors between April 13 and
15, and will become tradable as of April 17 on the inter-bank market and
securities exchanges, the ministry said.
The bonds have a fixed coupon of 1.7 percent, according to the bond bidding
that ended on Friday. The coupon is higher than that of the previous two batches
of bonds, with interest to be paid annually.
China plans to float 200 billion yuan of local government bonds this year.
The first batch of Xinjiang Uygur Autonomous Region government bonds was issued
on March 30.
Three more batches of local bonds will be issued in the first half of
April, said sources with China Government Securities Depository Trust and
Clearing Co. Ltd., a non-banking financial institution in charge of centralizing
depository and settlement for the inter-bank bond market.
The ministry said last month that most of the 200-billion-yuan local
government bonds would be issued during the second and third quarters this year.
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