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China Bohai Bank to issue 10B yuan of bonds

China Bohai Bank Co. Ltd. plans to issue 10 billion yuan of bonds to boost its source of medium- and long-term funds, among other things.

The three-year notes are set to be issued Jan. 15. The coupon has yet to be determined.

Proceeds from the issuance will also be used for purposes such as boosting the lender's liabilities structure and supporting national development strategies.

As of Jan. 7, US$1 was equivalent to 6.94 Chinese yuan.