HONG KONG, Sept 5 State-owned Postal Savings
Bank of China (PSBC) plans to issue $7.5 billion
in bonds to bolster its balance sheet, a securities filing
showed on Monday.
PSBC, which also aims to raise $8 billion to $10 billion in
a Hong Kong initial public offering (IPO), received regulatory
approval in June to issue up to 50 billion yuan ($7.5 billion)
in Tier 2 capital, according to an updated IPO filing.
The bank said it plans to use the funds to replenish its
capital base. It did not disclose a timeline for the issuance.
PSBC also said its total assets rose 9.3 percent to 7.97
trillion yuan over the six months through June because of
increases in its loan and investment portfolios, and deposits
with the central bank.
Its non-performing loan ratio dipped to 0.78 percent at the
end of June from 0.80 percent six months prior, PSBC said.
The bank started pitching its IPO to investors on Monday,
looking to price the deal on Sept. 20 or 21, Thomson Reuters
publication IFR reported.
($1 = 6.6791 Chinese yuan renminbi)
(Reporting by Elzio Barreto)