CCB to raise 30b yuan via bonds

China Construction Bank (CCB) is planning to issue 30 billion yuan worth of subordinated bonds between Feb 24 and March 2 to improve its capital adequacy ratio, the lender said in a statement yesterday.

CCB will sell 15 billion yuan of 10-year bonds as well as 15 billion yuan of 15-year bonds, and it may float another 10 billion yuan of bonds if required.

China's banking regulator and the central bank have already cleared the CCB proposal.