China's AgBank plans to raise $17 bln via perpetual bond sales - sources [Reuters (UK)]
AGRICULTURAL B/C UNSP/ADR (ACGBY)
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Source: Reuters
China's AgBank plans to raise $17 billion via perpetual bond sales: sources - Reuters 2 Min Read SHANGHAI (Reuters) - Agricultural Bank of China (AgBank), the country’s third-largest lender by assets, plans to raise 120 billion yuan ($17.44 billion) by issuing perpetual bonds this month to replenish capital, two sources told Reuters on Tuesday. AgBank ( 601288.SS ) ( 1288.HK ) is joining other Chinese lenders in a rush to sell non-fixed-term bonds in a bid to bolster capital buffers in a slowing economy. Top lender Industrial and Commercial Bank of China ( 601398.SS ) ( 1398.HK ) will issue 80 billion yuan of perpetual bonds, or “perps”, on Friday, it said. Smaller rival China Bohai Bank [BOHAI.UL] plans to issue up to 30 billion yuan of perps in August. AgBank’s planned perps carry the top-notch triple-A credit rating. The sources declined to be identified as they were not authorized to speak to the media. AgBank could be not reached immediately for comment. The claims of perp
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