Chinese Mandarin - Bank: BoCom sells bonds to sustain loans

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.

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