China’s Ministry of Finance (MOF) plans to issue a total of 70 billion yuan (approx. USD$9.88 billion) in a third round of 2020 anti-Coronavirus special sovereign bonds (抗疫特别国债).
According to state media the issuance conditions for these bonds will be:
- 10-year maturities, and competitive bidding for a total face value of 70 billion yuan in bonds;
- Bidding to be held on 23 June 2020 from 10:35 to 11:35 in the morning, with interest to be calculated starting from 24 June and listed trading to commence on 30 June;
- Interest payments for these bonds will be made on a semi-annual basis, on 24 June and 24 December, with the final payment scheduled for 24 June 2030.