2.35 trillion Yuan last year, 28 billion 15 year Chinese Treasury Bonds Today.
China to issue 28 bln yuan in T-bonds at 4.16% coupon
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| <From the Chinese - Xinhau - English language Press> |
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BEIJING, Feb. 27 (Xinhua) -- The Ministry of Finance said on
Wednesday that China will issue 28 billion yuan (3.9 billion U.S.
dollars) worth of long term book-entry treasury bonds, with a fixed
annual interest rate of 4.16 percent. Interest on the 15-year bonds would be calculated from Feb. 28,when the issue starts, and paid semi-annually. The principal would be returned at maturity, the ministry said. The issue, which will end on March 3, is the second batch this year. The first, announced on Feb. 1, was for 29 billion yuan in seven-year bonds with a fixed annual interest rate of 3.95 percent. In 2007, China issued 35 batches of Treasury bonds amounting to about 2.35 trillion yuan. |
Wish I could add this to the final exam! Grinning!
Sadly, now more worries for Municipals ...
New Monkey, Same Backs(Wall Street Journal - subscription required)
Another Debt Market For Governments Loses Buyers, and Rates Rise
By LIZ RAPPAPORT, February 28, 2008; Page C1
Banks and municipalities can't catch a break these days.
A new round of higher debt costs confronts some states and cities as another usually humdrum part of the credit markets runs into trouble. This time, the culprits are variable-rate demand notes. And banks that guarantee they will act as buyers of last resort face something they never expected -- having to purchase many of them at once.
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