May 31, 2019 / 8:23 AM / 4 months ago

China approves 40 bln yuan perpetual bonds of Hua Xia Bank

BEIJING, May 31 (Reuters) - China’s banking and insurance regulator said it approved Hua Xia Bank’s issuance of up to 40 billion yuan ($5.80 billion) worth of perpetual bonds, according to a statement released on its official website on Friday.

The China Banking and Insurance Regulatory Commission(CBIRC) also said that the central bank would conduct bill swaps to support issuance of bank’s perpetual bonds.

Perpetual bonds have no maturity. ($1 = 6.9010 Chinese yuan renminbi) (Reporting by Beijing Monitoring Desk; Editing by Simon Cameron-Moore)

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