China to Issue 13.1b yuan Local Bonds, 28.6b yuan Book-entry T-bonds

China's Ministry of Finance (MOF) said Wednesday it would issue 13.1 billion yuan (1.92 billion U.S. dollars) of three-year local government bonds from May 14 to 18 on behalf of three provinces at a fixed annual coupon rate of 1.71 percent.

The plan allocates 3.1 billion yuan for Hubei Province, 9 billion yuan for Sichuan Province and 1 billion yuan for Dalian city in Liaoning Province.

The three local bonds will begin trading on May 20.

The ministry would also issue a batch of book-entry T-bonds of 28.6 billion yuan, the eighth of its kind this year.

The one-year, short-term bonds have a fixed annual coupon interest of 0.89 percent, with the selling period lasting from May 14 to 18. Trading begins on May 20. 

Source: CRIEnglish