Shanghai International Airport Co., Ltd., operator of China's second-busiest airfield, said it plans to sell 2.5 billion yuan (US$324 million) of domestic bonds to fund airport expansion.

The 10-year bonds will have an annual coupon of 4.1 percent to 4.35 percent, the Shanghai-based company said in a statement to the city's stock exchange on April 6.

The yield for the benchmark 10-year government bond was 3.42 percent on April 5. The issue is part of 99.2 billion yuan of corporate bonds to be sold by 95 domestic companies this year, according to China's central government.