January 25, 2019 / 11:59 AM / a month ago

Bank of China sells 40 bln of perpetual bonds at 4.5 pct yield - traders

SHANGHAI, Jan 25 (Reuters) - Bank of China Ltd , China’s fourth-largest lender, sold 40 billion yuan worth of perpetual bonds on Friday with a 4.5 percent yield, traders said, in the first issuance of perpetual bonds by a Chinese bank.

A source previously told Reuters the bonds would likely be priced within a range of 4.5 percent to 5.2 percent.

China’s banking and insurance regulator last week gave Bank of China approval to issue the bonds, as policymakers seek to boost banks’ capital adequacy and encourage lending in an attempt to boost economic growth.

Reporting by Andrew Galbraith

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