China's ICBC to auction 22 bln yuan in sub debt

SHANGHAI, Sept 7 (Reuters) - Industrial & Commercial Bank of China (601398.SS)(1398.HK), the world's most valuable bank, said on Tuesday it plans to issue 22 billion yuan ($3.2 billion) in 10- and 15-year subordinated bonds to maintain its Tier-2 capital.

That includes 7 billion yuan in 10-year bonds and 15 billion yuan in 15-year bonds.

The bonds will be issued from Sept. 10 to Sept. 14 and begin secondary market trading on Sept. 14, it said in a statement published on the website for China's major bond issues, www.chinabond.com.cn. ($1=6.79 Yuan) (Reporting by Li Hongwei and Jaqueline Wong; Writing by Chen Yixin;)