Fujian provincial government will auction 11.6 billion yuan worth of general obligation bonds on July 14, according to a filing released by Fujian Provincial Department of Finance on Tuesday.
This batch of general obligation bonds is the first of its kind planned to be issued by the provincial government, including 1.16 billion yuan of 3-year ones, 3.48 billion yuan of 5-year ones, 3.48 billion yuan of 7-year ones and 3.48 billion yuan of 10-year ones.
The interest of 10-year ones will be paid semi-annually, and the interest of the rest ones will be paid annually. Dutch bidding will be adopted as the tender mode for the bond offerings.
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