China to issue 15 bln yuan T-bonds, 15.4 bln yuan local bonds next week

BEIJING, May 8 (Xinhua) -- China's Ministry of Finance (MOF) said Friday it
would issue 91-day treasury bonds with a face value of 15 billion yuan (2.2
billion U.S. dollars) from May 11 to 13.

The issue price, set by competitive bidding, was 99.793 yuan. The annual
yield was 0.85 percent, the ministry said. Interest would be calculated from May
11 and paid in a lump sum at maturity.

The bonds could begin trading on May 15.

The MOF also said it would issue 15.4 billion yuan of three-year local
government bonds from May 11 to 13 on behalf of three provinces: 3 billion yuan
for Heilongjiang Province, 8.4 billion yuan for Yunnan Province and 4 billion
yuan for Zhejiang Province.

Each bond will have a fixed annual coupon rate of 1.77 percent.

The MOF would issue a total of 28.5 billion yuan of local government bonds
in the first half of May on behalf of six local governments, which would also
include Dalian City, Sichuan Province and Hubei Province.

China planned to float a total of 200 billion yuan of local government
bonds this year.