Agricultural Bank of China bonds to have at least five-year term

By Marisa Wong

Madison, Wis., Jan. 14 - The Agricultural Bank of China Ltd. announced that its proposed subordinated bonds of up to RMB 50 billion will have a maturity of at least five years.

As previously reported, the bond offering is subject to shareholders' approval at a meeting to be held on March 2.

Proceeds would be used to increase the supplementary capital and capital adequacy ratio of the bank.

Based in Beijing, the commercial bank has branches in mainland China, Hong Kong and Singapore.

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