China to issue $3.7 billion worth of T-bonds

China will issue 30 billion yuan (3.75 billion U.S. dollars) worth of book-entry treasury bonds during Feb. 27 and March 2, the Ministry of Finance said on Friday.

The seven-year bonds, the first batch to be issued this year, will carry an annual interest rate of 2.51 percent, the ministry said in a statement.

The ministry said the bonds will be available for wholesale on the national inter-bank bond market and securities exchange market between Feb. 27 and March 2.

The bonds will be available on the bond markets and at outlets of selected commercial banks, including the country's four biggest commercial banks for trading in cash and repurchase starting March 8, the ministry said in the statement.

Source: Xinhua