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CCB to issue 40b yuan subordinated bonds
By Lillian Liu (chinadaily.com.cn)
Updated: 2009-02-03 15:47 China Construction Bank (CCB), the country's largest property lender, said on Tuesday it has obtained the approval from the banking regulators to issue up to 40 billion yuan ($5.86 billion) in subordinated bonds to improve its capital adequacy ratio.
"The bonds should be appeal to investors given the current deposit interest rate level," said Tony Tong, a banking analyst at China Everbright Research Ltd. CCB said last month that a bond issue would help raise its capital adequacy ratio and replenish supplementary capital of the bank. (For more biz stories, please visit Industries)
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