Bank of China, the country's largest foreign exchange lender, said on Friday that it planned to sell up to Rmb40bn ($5.86bn) of convertible bonds to replenish its capital following a year of unprecedented loan growth in China.
The bank said the proceeds from the convertible bond sale would be used to boost its capital base and allow it to meet stricter regulatory and capital requirements. |
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Margaret Bassett passed away August 21, 2011. She was a treasured member of the Opednews.com editorial team for four years.
Margaret Bassett--OEN editor--is an 89-year old, currently living in senior housing, with a lifelong interest in political philosophy. Bachelors from State University of Iowa (1944) and Masters from Roosevelt University (1975) help to unravel important requirements for modern communication. Early introduction to computer science (1966) trumps them. It's payback time. She's been "entitled" so long she hopes to find some good coming off the keyboard into the lives of those who come after her.