China Development Bank (CDB) will auction 26 billion yuan of 1-year, 3-year, 5-year, 7-year and 10-year fixed-rate bonds on August 25.
CDB plans to raise three billion yuan, three billion yuan, five billion yuan, seven billion yuan and eight billion yuan via the five products, which are additional issues for the previously issued 10th, 13th, 15th, 16th and 17th batches of bonds of CDB this year.
According to CDB, it would use the proceeds from these bond issues to support shanty-town reconstruction and urban infrastructure programs. CDB is an ex-policy lender of China but it has been granted zero bond risk weighting by China Banking Regulatory Commission in June.
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