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Bank of Nanjing issues 5B yuan of Tier 2 bonds

Bank of Nanjing Co. Ltd. issued 5 billion yuan of notes to boost its Tier 2 capital.

The 10-year notes carry an annual coupon rate of 4.01% and may be redeemed after five years, the lender said Dec. 30.

The bonds were issued the same day.

As of Dec. 30, US$1 was equivalent to 6.99 Chinese yuan.