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ICBC exercises option to redeem subordinated bonds on July 20
By Tali Rackner
Norfolk, Va., July 21 – The Industrial and Commercial Bank of China, Ltd. is exercising its redemption option to partially redeem its RMB 40 billion subordinated bonds dated July 22, 2009, according to a notice.
The bonds will be redeemed on July 20.
As of Monday, the Beijing-based bank has redeemed RMB 16 billion of the bonds.
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