Yuan bond issue
By Leo Zhang |
April 20, 2010, Tuesday
|
Print Edition
Print Edition
CENTRAL Huijin Investment is planning to issue yuan-denominated bonds to raise 50 billion yuan (US$7.3 billion) and will use the proceeds to bail out two Chinese financial institutions, the Century Weekly magazine reported yesterday, citing unnamed sources.
Huijin, a wholly owned subsidiary under China Investment Corp, has submitted a proposal to the State Council to issue the long-term debt to restructure the Export-Import Bank of China and China Export & Credit Insurance Corp, the magazine said.
Huijin will inject the capital into the two institutions after selling the bonds in late May, the magazine said. The debt may carry a coupon rate lower than that of bills issued by commercial banks but higher than government bonds, it said.
Huijin, a wholly owned subsidiary under China Investment Corp, has submitted a proposal to the State Council to issue the long-term debt to restructure the Export-Import Bank of China and China Export & Credit Insurance Corp, the magazine said.
Huijin will inject the capital into the two institutions after selling the bonds in late May, the magazine said. The debt may carry a coupon rate lower than that of bills issued by commercial banks but higher than government bonds, it said.
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