Bids for yuan treasury bond issue from July 5

The Ministry of Finance said on Wednesday that it would open bids for its planned 5 billion yuan ($760 million) yuan-denominated treasury bond issue in Hong Kong on July 5.

The bond issue will have three tranches and will be the first of two such issues planned by the ministry this year. The second round will also be worth 5 billion yuan and be issued in Hong Kong, the ministry said, without giving a specific timetable.

In the current issue, the first tranche will be a bond issue worth 3 billion yuan with a two-year maturity. It will be followed by an issue for 1.5 billion yuan with five-year maturity, and the remaining 500 million yuan will be a placement for central banks with an option to choose from either of the two maturities, the ministry said.