News Column

BoCom to Issue CNY40bn Writedowns Tier 2 Bonds

January 21, 2014

BEIJING , January 21 , SinoCast -- Bank of Communications (BoCom) said on January 20 that its board of directors agreed it to issue not more than CNY 40 billion not less than five-year writedowns-type qualified tier 2 bonds in domestic and foreign markets. The raised capital will be used to supplement the tier 2 capital. The interest rate will be determined based on the market interest rate.

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Source: Sinocast Banking & Credit Beat (China)

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