China’s ICBC may issue up to RMB 40 billion tier 1 capital bonds

By Rebecca Melvin

New York, Sept. 29 – Industrial and Commercial Bank of China Ltd. has obtained regulatory approval to issue up to RMB 40 billion of additional tier 1 capital bonds in the offshore market, according to a company announcement.

The approval was granted by the China Banking and Insurance Regulatory Commission.

ICBC is based in Beijing.

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