Economy

China to issue $4b book-entry treasury bonds

(Xinhua)
Updated: 2010-05-27 09:24
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BEIJING: China's Ministry of Finance (MOF) said Wednesday that it would float 7-year book-entry treasury bonds with a total par value of 28.31 billion yuan ($4.14 billion) Thursday.

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The bonds will have a fixed annual interest rate of 2.83 percent, to be paid annually on every May 27 until 2017, according to a statement released on the MOF website.

The bonds, the 15th batch of their kind launched by the MOF this year, will be sold in five days till May 31 and will become tradable in the exchange markets after June 2, according to the statement.

Book-entry bonds are the bonds recorded in the investors' securities accounts, which can be traded on the open market, and their market prices can deviate from par value.