China Dev Bank to sell 20 bln yuan 3-year bonds

SHANGHAI, Sept 5 - China Development Bank said on Friday that it would auction 20 billion yuan of three-year fixed-rate bonds in the interbank market next Wednesday.

Investors will have an option at the end of the third year to extend the maturity until September 23, 2018.

CDB has the option of increasing the issue by as much as 10 billion yuan if demand proves strong.

The bonds will be issued between Sept. 11 and 23, with payment for the bonds made on Sept 23.

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