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China to issue US$3.9b certificate T-bonds

(Xinhua)
Updated: 2007-05-08 13:32

China will issue 30 billion yuan (US$3.9 billion) worth of short-term "certificate treasury bonds" starting May 10, the third batch of its kind issued this year.

The T-bonds include 21 billion yuan worth of three-year bonds that carry a fixed annual interest rate of 3.66 percent, and 9 billion yuan worth of five-year bonds with a 4.08-percent interest rate, according to the Ministry of Finance.

The purchasers must register their real names to buy the bonds, which can serve as security for loans but cannot be transferred, said the ministry in a statement published on Sunday.

Interest on the bonds will be calculated from the day of purchase, and purchasers will receive the principal and interest when the certificate T-bonds fall due.

The public can purchase them between May 10 and 31 at the retailing outlets of 39 designated underwriting institutions, including the Industrial and Commercial Bank of China, the Agricultural Bank of China, the Bank of China and the China Construction Bank, as well as some other commercial banks.

The country earlier issued 50 billion yuan worth of certificate T-bonds starting April 1 and another 30 billion yuan starting March 1.