trending Market Intelligence /marketintelligence/en/news-insights/trending/xactnwxktqmq7xg-zgewva2 content
BY CONTINUING TO USE THIS SITE, YOU ARE AGREEING TO OUR USE OF COOKIES. REVIEW OUR
PRIVACY & COOKIE NOTICE
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *

* Required

In this list

Agricultural Bank of China to sell NPL-backed securities

Shareholder Advocates Say New SEC Policy To Prompt Litigation, Less Transparency

Groups Urge Business Roundtable CEOs To Act On New Corporate Purpose Declaration

State of South Korean OTT Video: Subscription

Global Streaming Media Device Sales Forecast To Flatten In 5 Year Outlook


Agricultural Bank of China to sell NPL-backed securities

AgriculturalBank of China Ltd. plans to sell securities backed by 10.7 billionyuan of nonperforming loans, Bloomberg News reported July 25, citing astatement from the bank on the website of China's main bond clearinghouse.

The bank said it will issue two tranches of the NPL-backedsecurities, made up of a 2.06 billion yuan senior tranche and a 1 billion yuansubordinated tranche. The lender will sell the securities at 29% of the loans' facevalue, while the recovery rate on the debt is forecast is at 41%.

Chinese commercial banks have been to issue NPL-backed securitiesunder a pilot program as the banking sector grapples with rising bad loans. Thecountry's banking regulator said July 15 that the NPL securities program willbe expanded, but did not provide further details.

Bank of ChinaLtd. and ChinaMerchants Bank Co. Ltd. issued a total of 534 million yuan of NPL-backedsecurities in May.

As of July 22, US$1was equivalent to 6.68 Chinese yuan.