Bank of China, China’s fourth biggest lender, plans a RMB30.7 billion (US$5 billion) bond sale that will be the largest of all tier-1 notes in the country, Bloomberg reported. Bank of China plans to issue the bonds in various currencies, which may include the Chinese yuan and the U.S. dollar. The Beijing-based lender is targeting a 6% to 7% coupon. The bank reported earlier this week that it had more than doubled the amount it set aside for bad loans as profit growth cooled to the slowest pace in five quarters amid a slump in economic expansion.
Categories