China to Issue Two Batches of Discount T-bonds Next Week

China's Ministry of Finance said Friday it will issue two batches of short-term book-entry discount treasury bonds next week.

The first batch of the bonds, with a total par value of 11.45 billion yuan (1.68 billion U.S. dollars), will have a term of 91 days, according to a statement on the ministry website.

The issue price of the bonds will be 99.548 yuan and they will have a face value of 100 yuan.

The second batch, with a maturity of 273 days, will be worth 17.75 billion yuan. Their issue price will be 98.511 yuan and the face value will be 100 yuan.

Both batches will be issued from June 14 to 18 and will become tradable on inter-bank bond and securities bond market from June 22.

A discount bond is a bond issued at less than par value that redeems at par value. No interest is paid on the bonds.