Banking

Bank of East Asia to issue up to 5b yuan in bonds: sources

(Agencies)
Updated: 2010-05-31 16:31

Bank of East Asia's China subsidiary is planning to issue as much as 5 billion yuan ($732 million) worth of bonds, the second yuan bond to be issued by a foreign company in China, three people familiar with the matter said today.

Related readings:  Minsheng Bank gets nod for subordinated bond issue  Bank of China's $5.9b bond sale gets approval

China International Capital Corp (CICC) and Industrial and Commercial Bank of China are among the underwriters handling the deal, which is pending regulatory approval, the sources said.

Bank of East Asia's spokeswoman said the bank would consider any possible way to optimize its capital structure, but declined further details.