China to sell electronic bonds to retail investors for $6.27 billion

07/14/2012 | 06:34am US/Eastern

The bonds, which pay interest directly into investors' accounts, will be released in two batches - the 9th and 10th issues of such bonds this year, MOF said in a statement.

The 9th batch, a 3-year bond, will be auctioned at an average annual yield of 4.76 percent. The 10th batch, a 5-year bond, will be sold at an annual yield of 5.32 percent.

The issuance can be cancelled if China's central bank adjusts interest rate before July 20. ($1 = 6.3789 Chinese yuan)

(Reporting by Ruby Lian and Carrie Ho)

Source: http://www.4-traders.com/news/China-to-sell-electronic-bonds-to-retail-investors-for-$6-27-billion--14413750/

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