China to issue 28 bln yuan in T-bonds

The Ministry of Finance announced on Wednesday that it will float another 28 billion yuan (4.57 billion U.S. dollars) in book-entry treasury bonds as part of an issuance that began in August.

The new bonds will be priced at 96.15 yuan for each bill with a face value of 100 yuan, it said.

The ministry issued its 18th batch of book-entry treasury bonds worth 30 billion yuan in August. A further 28 billion yuan was added to the issuance in October.

The interest rate for the bonds is fixed at 4.08 percent annually.Interest will be paid every half year.

The bonds will expire on August 22, 2023.