BEIJING - China will issue 28 billion yuan ($4.25 billion) of book-entry treasury bonds and 60 billion yuan ($9.12 billion) of certificate treasury bonds in the coming days, the Ministry of Finance said on Wednesday.
With a term of 30 years, the book-entry bonds will have a fixed annual par interest rate of 4.31 percent. The interests will be paid every six months. The selling period of the bonds will last five days from Feb 24 to 28, and the bonds will become tradable in the exchange markets starting on March 2.
This is the fifth group of its kind launched by the ministry this year. The ministry also said on Wednesday that it would float 60 billion yuan of certificate T-bonds -- the first batch of this year -- between March 1 and 21.
The certificate bonds include 12 billion yuan of one-year bonds with a fixed annual interest rate of 3.45 percent, 30 billion yuan of three-year bonds with an annual interest rate of 5.18 percent, and 18 billion yuan of five-year bonds with an annual interest rate of 5.75 percent.
Also, interest will be calculated from the day of purchase, and principal and interest will be paid upon maturity.
The public can purchase the bonds at the retailing outlets of 40 designated commercial banks, including the Industrial and Commercial Bank of China, the Agricultural Bank of China, the Bank of China and the China Construction Bank, according to the ministry.
Further, purchasers must register their names to buy the bonds, which can serve as security for loans but cannot be transferred, said the ministry.