SHANGHAI: Agricultural Bank of China Ltd plans to sell up to 120 billion yuan ($17.87 billion) in tier-two capital bonds, sources with knowledge of the matter said on Wednesday.
The sources, citing a memo on the plan, said the first batch - 10-year bonds worth 40 billion yuan - would be issued after the Lunar New Year holiday, which is next week.
The bonds would be offered at a premium of 60-100 basis points over China Development Bank bonds of the same tenor, the sources said.
AgBank did not immediately respond to a request for a comment. ($1 = 6.7136 Chinese yuan renminbi)