China to issue discount treasury bonds

China's Ministry of Finance (MOF) said Sunday that it will issue 15 billion yuan ($2.44 billion) in book-entry discount treasury bonds this week.

The bonds will be sold on a discounted basis with a maturity term of 273 days, and the discount rate will be set through competitive tendering this Friday, the ministry said in a statement.

It added that the bonds will be sold on the interbank market from May 10 to 14 and will become tradable on the secondary market on May 16.

Interest calculation will start on May 12 and the maturity date will be Feb. 9, 2015.

This is the MOF's second issuance of book-entry discount treasury bonds this year.