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Postal Savings Bank of China may issue up to RMB 60 billion bonds
Los Angeles, Aug. 20 – Postal Savings Bank of China Co., Ltd. announced plans to issue up to RMB 60 billion, or its equivalent in foreign currencies, of write-down undated capital bonds.
Proceeds will be used to replenish the bank’s additional tier 1 capital.
The proposed issuance is subject to shareholder approval. Once granted, the approval will be valid to Dec. 31, 2022.
Postal Savings is a Beijing-based bank.
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