China Huarong to sell $3.64b of bonds to buy more distressed assets

China Huarong to sell $3.64b of bonds to buy more distressed assets

100 Yuan notes are seen in this illustration picture in Beijing November 5, 2013. REUTERS/Jason Lee/Files

China Huarong Asset Management Co, the country’s biggest manager of bad debts, said on Tuesday it will sell up to 25 billion yuan ($3.64 billion) of bonds in the next week to replenish capital and fund the purchase of distressed assets.

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