Biz Scene: MARKET
China Daily | Updated: 2007-02-27 07:10
BOCOM to sell bonds
Bank of Communications Ltd said it would sell 25 billion yuan of bonds next week to sustain loans growth and enter new business lines.
The 10- and 15-year subordinated bonds will be sold on the interbank market to institutional investors starting March 6, the Shanghai-based bank said in a statement. China Galaxy Securities Co will underwrite the sale.
The bank, 19.9 percent owned by HSBC Holdings Plc, joins bigger rivals the Industrial and Commercial Bank of China Ltd and Bank of China Ltd in tapping domestic capital markets.
(China Daily 02/27/2007 page15)
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