China bank to sell securities backed by bad debt
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Shanghai
AGRICULTURAL Bank of China Ltd is planning China's largest sale so far under a trial programme for lenders to offload bad loans by packaging them as asset-backed securities.
The lender plans to sell securities backed by 10.7 billion yuan (S$2.2 billion) of non-performing loans (NPL) on the interbank bond market, it said on July 22 on the Chinese bond clearing house website.
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