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China Guangfa Bank issues 45B yuan of perpetual bonds

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China Guangfa Bank issues 45B yuan of perpetual bonds

China Guangfa Bank Co. Ltd. raised 45 billion yuan via an issuance of perpetual bonds.

The notes were priced with a coupon of 4.50% per year over the first five years, according to a Sept. 27 release.

Proceeds from the issuance will be used to supplement the bank's Tier 1 capital.

As of Sept. 27, US$1 was equivalent to 7.12 Chinese yuan.