Caixin OnlineFinance & EconomicsTop Stories Finance ICBC's Huarong Bonds Extended for 10 Years
08.16.2010 18:05

ICBC's Huarong Bonds Extended for 10 Years

The finance ministry will provide support for the payment of the principal and interest of ICBC's bonds from Huarong
By intern reporter Bai Lin

Industrial and Commercial Bank of China had the bonds it bought from Huarong Assets Management Co. extended for 10 years, according to a statement by the Beijing-based lender.

The Ministry of Finance has informed ICBC that it would provide support to China Huarong over the payment of the principal and interest of a 313 billion yuan bond issued to ICBC, according to the statement.

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