China issues 30b yuan in 3-year T-bonds

BEIJING - The Ministry of Finance (MOF) announced Wednesday that it will issue 30 billion yuan ($4.77 billion) of three-year book-entry treasury bonds.

The issuance is the ministry's seventh batch of book-entry treasury bonds this year, according to a statement posted on the ministry's website.

The interest rate for the bonds is fixed at 2.91 percent. Interest will be paid annually on April 26, while the third year's interest and principal will both be paid upon maturity on April 26, 2015, the ministry said.

The bonds will be sold from April 26 to 27 and become tradable on exchange markets starting May 3, according to the statement.