China Industrial Bank plans 18 bln yuan bonds

SHANGHAI, Dec 23 (Reuters) - China's Industrial Bank (601166.SS), a mid-sized lender, said on Tuesday it planned to offer up to 18 billion yuan ($2.63 billion) of subordinated bonds in the interbank market to boost its capital.

The term of the bonds will be up to 15 years, but the details are yet to be determined. The issuance requires approval from shareholders, the bank said in a statement to the Shanghai Stock Exchange.

The bank also said it would raise its limit on bad debt write-offs in 2008 to 900 million yuan, from 700 million yuan previously. ($1=6.851 Yuan) (Reporting by Rujun Shen; Editing by Jonathan Hopfner)