China Exim Bank to auction 10 bln yuan floaters

SHANGHAI, July 4 (Reuters) - Export-Import Bank of China said on Friday it would auction 10 billion yuan ($1.5 billion) of three-year floating-rate bonds in the interbank market next Thursday.

The coupon will be based on the central bank's fixed one-year deposit rate.

Exim Bank, one of three policy banks lending in line with government initiatives, may increase the issue by up to 5 billion yuan if demand proves strong. Payment will occur on July 15. ($1 = 6.85 yuan) (Reporting by Karen Yeung; Editing by Andrew Torchia)