Municipal lender Bank of Hangzhou has cinched approval from China’s banking regulators for two new bond issues.
On 22 September Bank of Hangzhou announced that it had recently obtained approval from the People’s Bank of China (PBOC) and the China Banking and Insurance Regulatory Commission (CBIRC) for an issue of financial bonds and an issue of tier-2 capital bonds.
Under the approval Bank of Hangzhou is permitted to issue up to 30 billion yuan in financial bonds on China’s interbank bond market, and up to 10 billion yuan in tier-2 capital bonds.
