The Ministry of Finance announced here on Friday that it would issue 28 billion yuan (about 4 billion U.S. dollars) worth of three-month book-entry treasury bonds next week.
The bonds, with an annual interest rate of 3.18 percent, will be issued from May 26 to May 28. The bonds will begin trading on May 30.
The bonds will be issued at a discount from par value, with the par value to be repaid on Aug. 26, 2008. The issue price was set through competitive bids at 99.222 yuan for each 100 yuan worth of par value.
It would be the eighth batch of book-entry T-bonds issued this year, totaling more than 220 billion yuan, the ministry said.
Source: Xinhua
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