Bond sale plan to boost BOC
06-03-2009
Bank of China says its main shareholder has proposed selling up to 120 billion yuan of subordinated bonds, to boost the bank's capital. The bonds will have a term of no less than five years. The main shareholder is the government investment vehicle, Central Safe Investments, which holds a 67.53 percent stake in Bank of China. Shareholders will consider the plan for the bond issue at a meeting on March 23.
