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Henan Province bonds on sale from Tuesday

A TOTAL of 5 billion yuan (US$731.5 million) of Henan Province local government bonds are to go on sale on April 7, the Chinese Ministry of Finance said yesterday.

The batch of bonds -- the third of its kind in China -- will be issued by the ministry on behalf of the Henan provincial government and take the form of book-entry national treasury bonds.

The three-year bonds will be sold to investors between April 7 and April 9, and will become tradable from April 13 on the inter-bank market and securities exchanges.

The bonds have a fixed coupon of 1.63 percent, higher than that of the previous two batches of bonds, with interest to be paid annually.

China plans to float 200 billion yuan of local government bonds this year, with the first batch of the Xinjiang Uygur Autonomous Region government and the second of Anhui Province issued on March 30 and April 1.

Sichuan Province will be the next to have its local bonds issued on April 7.


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