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China to float $6.7 billion in treasury bonds
(Xinhua)
Updated: 2008-07-24 14:33 China's Ministry of Finance (MOF) announced on Wednesday it would float 46 billion yuan ($6.7 billion) of treasury bonds in the next 20 days. This includes 26 billion yuan of book-entry T-bonds and 20 billion yuan in certificate T-bonds. The 26 billion yuan book-entry T-bonds is the 12th batch of its kinds to be issued by the ministry. They will be sold via the national inter-bank bond market and stock markets between July 24 and July 28, and begin trading on July 30, according to a statement on the ministry's website. The six-month book-entry T-bonds, with a face value of 100 yuan, will be sold at 98.348 yuan, realizing a return of 3.41 percent annually, said the MOF. After issuing the book-entry bonds, the ministry will also issue 20 billion yuan in certificate T-bonds in early August, the fourth batch this year. The bonds include 14 billion yuan with a maturity term of three years and an annual interest rate of 5.74 percent, and 6 billion yuan worth of T-bonds with a maturity term of five years and an annual interest rate of 6.34 percent. The certificate T-bonds, whose interest will be calculated from the date of purchase and paid only once at or after the date of maturity, will be issued between August 1 and August 10 by designated underwriting institutions. The ministry said the T-bonds would be available to the public who could purchase them at retailing outlets of the members of 39 underwriting institutions selected in 2004 for the issuance of certificate T-bonds. The underwriters include the Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China and China Construction Bank, as well as some joint-stock commercial or city banks. (For more biz stories, please visit Industries)
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