The Chinese Ministry of Finance (MOF) announced on Wednesday that it will issue 28 billion yuan (4.009 billion U.S. dollars) worth of book-entry treasury bonds this week, with a fixed annual interest rate of 4.5 percent.
This is the sixth batch of book-entry T-bonds this year. The 30-year bonds will be sold on the inter-bank bond market and stock markets from May 8-13 and will begin trading on May 16.
Interest will be calculated from May 8 and paid twice annually. The principal would be returned at maturity on May 8, 2038, the ministry said in a statement on its website.
It's China's first long-term T-bond issue this year and the second in the past six years. The first 30-year issue was a year ago.
Not including this issue, China has issued five batches of book-entry T-bonds this year, totaling 139 billion yuan, the ministry said.
(Xinhua News Agency May 8, 2008)
