TREE NEWS update: China Development Bank issued 12 billion yuan of 1-year bonds at a coupon rate of 1.3800%, matching expectations. The bid-to-cover ratio was 1.88 times, with a marginal ratio of 1.05 times. The bank also sold 7 billion yuan of 3-year bonds at 1.4887% and 21 billion yuan of 10-year bonds at 1.7388%.
CDB sells 12B yuan 1-yr bonds at 1.38%
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