The lender gets nod from shareholders to invest $100mn to set up a commercial bank unit in Sao Paulo.
China Construction Bank (CCB), the country's largest mortgage lender, plans to raise up to 80 billion yuan ($12.4 billion) by selling subordinated debt to boost its capital, the bank said on Friday.
The debt will have a maturity of at least five years, CCB said in a filing with the Shanghai Stock Exchange.
The debt programme is subject to regulatory and shareholder approval, it said, as stated in a report in Reuters.
The bank also said that its board of director has approved a plan to invest $100 million to set up a wholly owned commercial bank unit in Sao Paulo, Brazil.
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