January 26, 2018 / 2:13 AM / 9 months ago

China state planner issues notice on banks conducting debt-to-equity swaps

BEIJING, Jan 26 (Reuters) - China’s state planner said on Friday Chinese banks’ debt-to-equity swap arms would be allowed to create private equity funds to conduct market-based debt-to-equity swaps.

China would also allow qualified listed and non-listed companies to issue common shares, preference shares or convertible bonds to the subsidiaries of banks for financing, according to the statement posted on the website of the National Development and Reform Commission.

Reporting by Beijing Monitoring Desk; Editing by Simon Cameron-Moore

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