(Bloomberg) — A massive push by China’s biggest banks to boost capital amid the worst downturn in at least a decade faltered out of the gate.Industrial & Commercial Bank of China Ltd. slashed a planned bond sale of the riskiest type of debt by more than a third, raising only $2.9 billion in dollar-denominated bonds out of a planned $4.4 billion.Some of China’s biggest lenders are trying to raise at least $29 billion in bonds this month to shore up capital as profits slide and bad debt balloons. Banks are being enlisted by the government to provide cheap loans to …read more
Source:: Yahoo Finance
