Bank of China Said to Plan 23 Billion Yuan Sale of Sub-Debt
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Bank of China Ltd., the nation’s fourth-largest lender by assets, plans to sell 23 billion yuan ($3.7 billion) of subordinated bonds to replenish capital, two people familiar with the matter said.
The sale is pending regulatory approval and timing has yet to be determined, the people said, asking not to be identified because the information is private. BOC International Holdings Ltd., the Beijing-based company’s investment banking unit, was hired to manage the sale.