China to issue 30 billion yuan in T-bonds

BEIJING -- The Ministry of Finance announced on Wednesday that it will float another 30 billion yuan ($4.89 billion) in book-entry treasury bonds as part of an issuance that began in May.

The new bonds will be priced at 98.02 yuan for each bill with a face value of 100 yuan, it said.

The ministry issued its 11th batch of book-entry treasury bonds worth 30 billion yuan in May. Thirty billion yuan was added to the issuance in June and Wednesday's announcement marks the addition of another 30 billion yuan.

The new bonds will bear the same interest rates and calculation period as the May issuance, the ministry said.

The interest rate for the bonds is fixed at 3.38 percent annually.

Interest will be paid every half year, with the last interest and principal paid upon maturity on May 23, 2023.