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2008-12-23 07:32:00 a.m. HKT, XFNA
China's Industrial Bank plans up to 18 bln yuan subordinated bond issue
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BEIJING (XFN-ASIA) - Industrial Bank Co Ltd (SHA 601166), in which Hong Kong's
Hang Seng Bank holds a 12.78 pct stake, said its board has approved the issue of
up to 18 bln yuan worth of subordinated bonds.
The bonds will have a maturity of up to 15 years. All proceeds will supplment
tier-2 capital, the bank said in a statement filed with the Shanghai Stock
Exchange.
(1 usd = 6.85 yuan)
zachary.wei@xfn.com
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