Lender to launch bond issue

China Development Bank, the mainland's largest policy lender, intends to sell up to US$1 billion in 10-year bonds for 90 basis points over comparable US Treasuries, the Standard of Hong Kong reported, citing sources familiar with the plans. Analysts said the pricing was fair relative to previous debt sales, pointing to the US$600 million bond issue made by CBD last year, which was trading at about 78 basis points over 10-year US Treasury Bonds. Proceeds from the issue are expected to be used for foreign currency lending on infrastructure, industrial projects and to pay down debt.