China's Chongqing Rural plans to offer up to RMB 8 billion of bonds

By Marisa Wong

Madison, Wis., March 22 - Chongqing Rural Commercial Bank Co., Ltd. said it plans to issue up to RMB 8 billion of financial bonds to the interbank bond market in China.

The bonds will have a maturity of five years and will be issued at par.

Proceeds will be used to increase the disposable capital for loans to small enterprises and to accelerate the growth of the Chongqing, China-based bank's small enterprise loan business.

The proposed issue is subject to shareholders' approval at an upcoming general meeting.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.