LENDING & CREDIT | Tony Chua, China

Bank of Communications mulls issuing $4.1bn subordinated bonds

The CNY-denominated bonds seen to be released by mid-October.

Bank of Communications (BoCom), China's fifth-largest bank by assets, plans to issue 26 billion yuan ($4.1 billion) of subordinated bonds, two sources with knowledge of the plan told Reuters on Thursday.

The yuan-denominated bonds may include maturities of 10 years and 15 years, said the sources who asked not to be identified.

The issuance is expected to take place in mid-October, one of the sources said.

CICC and China Construction Bank are lead underwriters of the issuance and Citic Securities and Haitong Securities are joint underwriters, another source said.

View the full story in Reuters.

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