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Industrial Bank to sell 15 bln yuan bonds-sources

Thu Jul 17, 2008 11:04pm EDT

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SHANGHAI, July 18 (Reuters) - Industrial Bank (601166.SS) plans to issue up to 15 billion yuan ($2.2 billion) of unsecured three- and five-year bonds in the domestic interbank market, sources with direct knowledge of the plan said on Friday.

The bonds, to be underwritten by CITIC Securities (600030.SS) and Industrial Securities, may be issued at the end of July or in early August, the sources said.

The issue would comprise three tranches: a three-year bond with a fixed coupon, a three-year floating rate bond and a five-year floating rate bond. Details of the tranches would be decided after a roadshow for investors. ($1 = 6.82 yuan) (Reporting by Pily Zou; Writing by Andrew Torchia; editing by Jonathan Hopfner)



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