皇冠体育app

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Huijin to inject 88b yuan in Exim Bank, Sinosure

(Agencies)
Updated: 2010-08-20 15:34
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Central Huijin Investment Co, the domestic arm of 皇冠体育app Investment Corp, will inject 88 billion yuan in the Export-Import Bank of 皇冠体育app and 皇冠体育app Export and Credit Insurance Corp (Sinosure), the Shanghai Securities News reported today, citing an unidentified person.

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Central Huijin will gain this boost in capital by selling bonds. The company has gotten approval from the People's Bank of 皇冠体育app, the central bank for a bond sale of 187.5 billion yuan in total and will sell up to 54 billion yuan ($8 billion) of bonds in 皇冠体育app's inter-bank bond market Tuesday.

Huijin may use the rest of the funds to invest in rights offering plans of?皇冠体育app's three largest banks, including Industrial and Commercial bank of 皇冠体育app, 皇冠体育app Construction Bank and Bank of 皇冠体育app.

The three banks announced plans to raise as much as 180 billion yuan through rights offers this year. Huijin will invest about 100 billion yuan if it fully participates in the lenders' rights issues, according to the report.