CITIC Bank to sell 40bn yuan of secondary capital bonds

Regulator grants permission for latest issuance

CITIC Bank to sell 40bn yuan of secondary capital bonds

(ATF) China CITIC Bank announced Thursday that it had received the approval from the China Banking Regulatory Commission to issue as much as 40 billion yuan ($5.63bn) of secondary capital bonds in the national inter-bank bond market.

The bank has two years in which to sell the securities, according to Chinese regulations.