China to float 30b yuan in 10-year T-bonds

BEIJING - The Ministry of Finance (MOF) announced Wednesday that it will float 30 billion yuan ($4.8 billion) in 10-year book-entry treasury bonds.

The issuance is the ministry's 11th batch of book-entry treasury bonds this year.

The interest rate for the bonds is fixed at 3.38 percent.

Interest will be paid every half year, with the last interest and the principal paid upon maturity on May 23, 2023.

The bonds will be sold from May 23 to 27 and become tradable on exchange markets starting on May 29, according to the MOF.