USEUROPEAFRICAASIA 中文双语Français
Home / Business

ABC bank plans to securitize $459m of NPLs

By Jiang Xueqing | China Daily | Updated: 2016-07-26 07:35

Agricultural Bank of China Ltd, the country's third-biggest commercial lender by assets, will issue 3.06 billion yuan ($459 million) of securities backed by nonperforming loans in the interbank bond market on Friday.

The senior tranche of the securities with a three-year maturity is worth 2.06 billion yuan, accounting for 67.3 percent of the total. The equity tranche with a five-year maturity is worth 1 billion yuan, according to documents posted on the website of China Central Depository & Clearing Co Ltd.

The securities are backed by 1,199 loans to 204 borrowers spread in industries from the wholesale and real estate to the textile sector. The bank said that by March 21, the balance of unpaid principal plus unpaid interests had totaled 10.73 billion yuan. The amount of NPLs that can be recovered is expected to be 4.37 billion yuan.

ABC bank plans to securitize $459m of NPLs

Today's Top News

Editor's picks

Most Viewed

Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US