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Industrial Bank issues 30B yuan of Tier 2 bonds

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Industrial Bank issues 30B yuan of Tier 2 bonds

China's Industrial Bank Co. Ltd. raised 30 billion yuan by issuing Tier 2 bonds.

The 10-year-notes carry an annual coupon of 4.15%, according to a release obtained Aug. 27.

The issuance is set to raise the lender's capital adequacy ratio by 0.59 percentage points.

As of Aug. 27, US$1 was equivalent to 7.16 Chinese yuan.