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China to float $2.93b certificate T-bonds

(Xinhua)
Updated: 2008-10-15 22:54

China's Ministry of Finance on Wednesday announced it would issue 20 billion yuan (about $2.93 billion) worth of certificate T-bonds next week.

The bonds include 14 billion yuan worth of three-year bonds that carry a fixed annual interest rate of 5.53 percent, and 6 billion yuan of five-year bonds with a 5.98 percent annual interest rate.

This batch of bonds, the fifth released this year, would be issued from October 20 to November 4, the ministry said.

Interest on the bonds will be calculated from the day of purchase, and the principal and interest will be paid upon maturity.

Purchasers must register their names to buy such certificate T-bonds, which could serve as security for loans, but could not be transferred, said the ministry.

The new issue will bring this year's certificate T-bonds to 130 billion yuan.