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China's Eximbank to raise up to 30B yuan via Tier 2 bonds

Export-Import Bank of China plans to issue up to 30 billion yuan worth of Tier 2 financial bonds.

The bonds will carry a 10-year maturity and may be redeemed at the end of the fifth year, according to an Oct. 11 statement.

The payment date is Oct. 22 and the listing date is Oct. 24.

Proceeds from the issuance will be used to supplement the policy bank's Tier 2 capital.

As of Oct. 11, US$1 was equivalent to 6.89 Chinese yuan.