May 31 (Reuters) – Bank of East Asia (BEA) (0023.HK) has applied to issue yuan-denominated bonds in China, a senior executive of its China unit said on Monday, confirming a Reuters report.
BEA’s China unit is planning to sell up to 5 billion yuan ($732 million) worth of bonds, pending regulatory approval, three people with knowledge of the matter told Reuters earlier on Monday. [ID:nTOE64U03N]
“We are very interested in bond issuance. We are still waiting for regulatory approval,” Chen Qichang, vice chairman of BEA China, told reporters.
BEA is also in talks to acquire a stake in a Chinese fund house, Chen said, without giving the name.
Once approved, the bank would become the second foreign company to issue yuan bonds in China, following a $146.5 million issue earlier this month by a unit of Mitsubishi UFJ Financial Group (8306.T), Japan’s largest bank. [ID:nTOE64G042] ($1=6.83 Yuan) (Reporting by Samuel Shen and Jason Subler; Editing by Jacqueline Wong)