Bank “perp” issuance surging
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Perpetual bonds are becoming the go-to tool for banks needing to raise capital.
So far in 2020, Chinese banks have raised RMB 274 billion by issuing 10 perpetual bonds.
That’s up from RMB 40 billion during the same period last year.
Why perpetual bonds?
Perpetual bonds (perps) don’t ever mature –...