MARKETS | Tony Chua, China

BEA's China unit eyes issuing yuan bonds

China regulator’s approval would give BEA license to sell $732bln worth of bonds.

Bank of East Asia (BEA) has applied to issue yuan-denominated bonds in China, a senior executive of its China unit said on Monday, confirming a Reuters report.

BEA's China unit is planning to sell up to 5 billion yuan ($732 million) worth of bonds, pending regulatory approval, three people with knowledge of the matter told Reuters earlier on Monday.

"We are very interested in bond issuance. We are still waiting for regulatory approval," Chen Qichang, vice chairman of BEA China, told reporters.

BEA is also in talks to acquire a stake in a Chinese fund house, Chen said, without giving the name.

View the full story in Reuters.

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