Cointime update: China Development Bank sold 40 billion yuan of one-year bonds at a coupon of 1.2753%, below the 1.3000% expected, with the bid-to-cover ratio at 7.47 times. The marginal bid ratio came in at 5.74 times, indicating strong demand for the policy bank’s short-dated paper.
China Development Bank issues 1-year bond at 1.2753%, 40 billion yuan
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