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China to float 20b yuan treasury bonds

(Xinhua)
Updated: 2008-06-04 19:10

China will float 20 billion yuan ($2.9 billion) worth of "certificated treasury bonds" from June 10, the third such issue this year.

The T-bonds include 14 billion yuan worth of three-year bonds that carry a fixed annual interest rate of 5.74 percent, and six billion yuan worth of five-year bonds with a 6.34-percent annual interest rate, said the Ministry of Finance in a notice published on Wednesday.

Purchasers must register their names to buy such certificated T-bonds, which could serve as security for loans, but could not be transferred, said the ministry.

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

The public can buy the bonds from June 10 to 30 at the retailing outlets of 39 designated underwriting institutions, including the Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, and China Construction Bank.