Money

China's Huijin to issue 150b yuan bonds

(Agencies)
Updated: 2010-07-08 10:09
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Central Huijin Investment Co, the domestic arm of China's sovereign wealth fund, plans to issue at least 150 billion yuan ($22.13 billion) in bonds, the Shanghai Securities News reported on Thursday, citing unidentified sources.

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That points to a slight increase in the amount that Huijin is aiming to raise.

Three sources had told Reuters on Tuesday that it would issue at least 120 billion yuan in different batches of bonds in the onshore interbank market after the initial public offering of Agricultural Bank of China this week.

Central Huijin, the largest shareholder of China's state-controlled banks, needs fresh funds to buy additional shares being offered by Bank of China and China Construction Bank.