The Agricultural Bank of China (AgBank) may sell subordinated bonds worth $4.6 billion, Reuters reports, citing Xinhua News Agency. The bonds will mature in 10 and 15 years. The Chinese lender also intends to issue up to $1.53 billion yuan-denominated bonds in Hong Kong.
There will be five lead underwriters for the bond sale, including Chinese investment bank, CICC. The bonds are part of a $7.68 billion debt issuance approved earlier this year by AgBank shareholders.
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