China to sell 15-billion-yuan T-bonds

BEIJING - China's Ministry of Finance announced on Friday that it would auction 15 billion yuan's ($2.45 billion) worth of 91-day book-entry discount Treasury bonds on December 16.

This batch of T-bonds is the eighth of its kind offered by the ministry this year with a value date and circulation date on December 16 and December 18, respectively.

The short-term bonds will be issued on a discount basis at the price of 98.827 yuan for each bill with a face value of 100 yuan, which is equivalent to an annual coupon rate of 4.87 percent.

This is the last batch of national T-bonds to be launched this year, said the ministry.