China floats 28b yuan in T-bonds

BEIJING -- The Ministry of Finance said on Wednesday that it will sell 28 billion yuan ($4.42 billion) in 20-year book-entry treasury bonds starting from Thursday.

The batch, the 18th of its kind this year, carries a fixed annual interest rate of 4.1 percent, the ministry said in a statement on its website.

Interest on the bonds will be paid semiannually while the principal will be returned upon maturity on Sept 27, 2032, according to the statement.

The bonds will be sold during Sept 27 to Sept 28, and become tradable on exchange markets starting on Oct 8, it added.