BoComm releases 20 bln renminbi-denominated bonds in Hong Kong

The bonds, with terms of between two years and five years, are targeted at institutional investors and individual investors.

Bank of Communications plans to issue up to 20 billion yuan worth of yuan-denominated bonds in Hong Kong by the end of 2012, reports China Securities Journal, citing a bank filing.

Ten billion yuan worth of the yuan-denominated bonds will be issued in 2011.

The bonds will have terms of between two years and five years.

The coupon rate of the bonds will be fixed according to market situation.

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