Bank of Suzhou (SHE:002966) obtained approval from the Chinese central bank to issue financial bonds domestically and internationally, according to a Shenzhen bourse filing on Wednesday.
The approval is valid until June 30, 2027.
By the time of the approval's expiry, the outstanding balance of newly issued bonds will not exceed 7 billion yuan and the total outstanding balance of ordinary bonds will not be more than 22 billion yuan.
The lender's shares rose 3% during the afternoon trade.