China Construction Bank Corp, the nation's largest mortgage
lender, plans to raise four billion yuan (US$541 million) selling
residential mortgage-based securities, the second such sale in the
country.
The notes will be sold to institutional investors on the
nation's interbank bond market between December 11 and 14, the
Beijing-based bank said on Tuesday. The securities will be divided
into three portions and carry domestic ratings of BBB to AAA. China
Construction Bank and China Development Bank, a state-owned lender
that funds public works, started a pilot program in 2005 to sell
asset-backed bonds.
(Shanghai Daily December 6, 2007)
