(Agencies6.1)
Updated: 2007-11-28 17:13

China's Ministry of Railways said on Wednesday it has auctioned 45 billion yuan (US$6.1 billion) of fixed-rate corporate bonds, which was increased by 10 billion yuan from the original 35 billion yuan due to strong demand.

The bonds comprised a nine billion yuan tranche of seven-year bonds at a yield of 5.38 percent, a 26 billion yuan tranche of 10-year bonds at a yield of 5.60 percent and 10 billion yuan of 15-year bonds at a yield of 5.75 percent.

Pricing take place on Tuesday and was based on the average one-year Shanghai Interbank Offered Rate five trading days prior, which was 4.41 percent.