People’s Bank of China to issue RMB5b Bills

It will be issued through HKMA’s Central Moneymarkets Unit.

The People’s Bank of China will be issuing six-month bills, worth a total of RMB5b, or approximately US$774.76m.

It will be held on 24 June, through the Central Moneymarkets Unit of the Hong Kong Monetary Authority (HKMA).

The Bills will be issued at par value and will mature on the interest payment date falling on or nearest to 27 December 2021.

The Bills will bear interest at the uniform annual issue interest rate, which will be determined through the competitive tender. Interest on the Bills is payable on 27 December 2021 in arrears, subject to the modified following business day convention.

Each tender must be for an amount of RMB500,000 (approximately US$77,468) or integral multiples thereof and the difference between any specified tender interest rates should be at least 0.01%, rounded to two decimal places.