China to float 26b yuan in one-year T-bonds

BEIJING - The Ministry of Finance (MOF) announced on Wednesday that it will issue 26 billion yuan ($4.21 billion) in one-year book-entry treasury bonds.

It marks the ministry's 14th issuance of such bonds this year, according to a MOF statement.

The bonds will be sold from July 4 to 8 and become tradable on exchange markets on July 10.

The interest rate for the bonds is fixed at 3.48 percent.

Interest and the principal will be paid upon maturity on July 4, 2014, the ministry said.