Bank of China OKed for 32b yuan of subordinate debt

Updated: 2011-05-11 14:35

(Crienglish.com)

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The Bank of China has now received regulatory approval to issue up to 32 billion yuan ($4.9 billion) worth of subordinate debt to improve its capital structure.

This latest issuing comes after the Bank of China issued subordinate debt worth 40 billion in 2009 and 2.5 billion last march.

The bank's chair, Xiao Gang, says while they're issuing debt, they have no plans to issue any more shares for the next 3-years.

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