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China to issue 11.9b yuan local bonds this week

(Xinhua)
Updated: 2009-07-07 11:16

Related readings:  China to issue 16.9b yuan local bonds, 30b yuan T-bonds next week  Local govt bond issuers may tweak coupon rates  First issue of local govt bonds set for March 30  Local govts may be allowed to issue bonds

The Ministry of Finance announced in Beijing on Monday that five further batches of local government bonds with a total value of 11.9 billion yuan ($1.7 billion) are set to launch this week.

The ministry said on its website, the 11.9-billion-yuan local government bonds, are composed of 1.5 billion yuan for Ningbo in Zhejiang province, 2.4 billion yuan for Shenzhen in Guangdong province, 2.5 billion yuan for Xinjiang Uygur autonomous region, 2.9 billion yuan for Shandong province, and 2.6 billion yuan for Liaoning province.

The five batches of bonds, with an issuing yield of 1.79 percent and a term of three years, will be sold to the public from July 7 to July 9, this year, and become tradable as from July 13, with interest paid annually.

According to the ministry, a total of 165.9 billion yuan in local government bonds has been issued by the end of June.