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China on Thursday selected the underwriters for the issue of 34 billion yuan (US$4.25 billion) worth of book-entry treasury bonds with terms of maturity of 10 years.

 

The T-bonds, the third batch of its kind issued this year, carry an annual interest rate of 2.80 percent, the Ministry of Finance said in a statement.

 

The issue of the T-bonds, whose interest is to be calculated from March 27, will be completed by March 30, said the ministry.

 

The T-bonds are available to investors with accounts for investment in funds, share and bonds investment at China Securities Depository and Clearing Co. or China Treasury Bonds Depository and Clearing Co.

 

The bonds will also be floated for cash trading from April 5 at the national inter-bank bonds markets or the stock markets.

 

The ministry said 31 of its 61 members selected through public bidding as underwriting institutions were awarded the rights to distribute the T-bonds.

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(Xinhua News Agency March 25, 2006)