China to issue 28b yuan in 10-year T-bonds

The Ministry of Finance (MOF) said Wednesday that it will sell 28 billion yuan ($4.44 billion) in 10-year book-entry treasury bonds from Thursday.

The bonds will have an annual interest rate of 3.51 percent, and interest will be paid every six months, the MOF said in a statement on its website.

The sales period for the bonds will last from Feb 23 to Feb 27, and the bonds will become tradable on the securities markets on Feb 29, according to the statement.

The bonds will be the fourth of their kind issued this year. The ministry previously issued 28 billion yuan in 5-year book-entry treasury bonds on Feb 16 at an annual interest rate of 3.14 percent.