Ping an bank has obtained China Banking Regulatory Commission approval to issue six-year convertible bonds of up to Rmb26bn (US$4.14bn). Proceeds will be used for Core Tier 1 capital. The deal still needs approval from the China Securities Regulatory Commission. Parcel delivery company yto express group has secured board approval for a proposed issue of six-year CBs of up to Rmb3.65bn. Proceeds will be used mainly for logistics projects. Shareholders will review the proposal on April 16.
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