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HONG KONG, Nov 13: The Agricultural Bank of China has issued floating rate certificates of deposits to raise US$128 million, the Hongkong and Shanghai Banking Corp. Ltd. said in a statement on Tuesday.
The issue will be undertaken in two tranches, with the $500 million tranche due on November 20, 2004 and the second due on December 10, 2004, the unit of HSBC Holding plc said.
Proceeds from the issue will be used to refinance the bank’s US$130 million floating rate certificates of deposits which will mature on December 10, this year, the statement added.—AFP
