BIZCHINA / Biz Media Digest |
Bank: BoCom sells bonds to sustain loans(Shanghai Daily)Updated: 2007-03-08 13:41 Bank of Communications Ltd, China's sixth-largest, said it finished selling 25 billion yuan (US$3.2 billion) worth of bonds, boosting capital to sustain loan growth. The 10-year, subordinated bonds will yield 3.73 percent to 6.73 percent and
the 15-year debt will return 4.13 percent to 7.13 percent, the Shanghai-based
lender said in a statement on the Chinabond Website yesterday. The site is run
by the China Government Securities Depository Trust and Clearing Co. Bank of
Communications, 19.9 percent owned by HSBC Holdings Plc, joins bigger rivals
Industrial & Commercial Bank of China Ltd and Bank of China Ltd in tapping
domestic markets to raise capital as demand for financial services soars in the
world's fastest-growing major economy. (For more biz stories, please visit Industry Updates) |
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