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Bank of Communications to issue up to 90B yuan of perpetual bonds
StreetTalk – Episode 69: Banks left with pockets full of cash and few places to go
Street Talk – Episode 69: Banks left with pockets full of cash and few places to go
Street Talk Episode 68 - As many investors zig away from bank stocks, 2 vets in the space zag toward them
Street Talk Episode 66 - Community banks tap the debt markets while the getting is good
Bank of Communications Co. Ltd. plans to issue up to 90 billion yuan of perpetual bonds to boost its Tier 1 capital.
The notes may be issued in the domestic or overseas markets in equivalent foreign currencies, according to a Jan. 16 release.
The move is subject to shareholder approval, after which the resolution will be valid until Dec. 31, 2021.
As of Jan. 16, US$1 was equivalent to 6.88 Chinese yuan.