Money

Huijin to sell $27.6b of bonds in first ever debt sale

(Xinhua)
Updated: 2010-08-19 15:01

BEIJING - Central Huijin Investment Ltd, an arm of China's sovereign wealth fund, said Thursday it will soon issue 187.5 billion yuan ($27.6 billion) of Renminbi-denominated bonds in its first ever bond sale.

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The capital raised will allow Huijin, which already controls China's largest banks, to further invest in the nation's five leading banks this year, the company said in a statement.

The bond sale has been approved by the People's Bank of China, China's central bank, the statement said.

The mid- and long-term bonds will be sold on the inter-bank bond market.