Economics
Chinese Banks' Record Fundraising Signals Industry Jitters
- Firms have raised $48 billion, biggest-ever first quarter
- Move comes amid regulatory requirements and a slowing economy
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China’s banks are setting fundraising records in a rush to strengthen their balance sheets.
Firms have used equity and debt offerings to raise $48 billion this year, the most for a first quarter, according to data compiled by Bloomberg. The flurry of issuance has had banks reach deep into the fundraising toolbox -- especially bonds that count as capital. That includes the first-ever perpetual sold domestically by a Chinese lender as well as rarely-used convertible bonds and dollar-denominated debt.