交通银行通过定向增发筹资90亿美元

2012-03-19 00:00:00来源：FT中文网

Bank of Communications, China’s fifth-largest lender, has raised $9bn to replenish its capital buffers in the biggest share sale in nearly a year. 　　　　
中国第五大银行交通银行(Bank of Communications)已融资90亿美元，用以补充其缓冲资本金，这是近一年内规模最大的一起售股行动。
With China’s stock market still fragile, BoComm opted for a private placement and met strong demand from its core investors, including HSBC, which holds a 19 per cent stake in the bank. 　　　　
由于中国股市仍很脆弱，交通银行选择通过定向增发的方式，满足了汇丰(HSBC)等核心投资者的增持需求。汇丰目前持有交通银行19%的股份。
Chinese banks have worked over the past two years to build up their capital cushions after launching a record lending spree in 2009 to help propel the country during the financial crisis. 　　　　
过去两年，中国各银行都在竭力增加缓冲资本。此前的2009年，这些银行掀起了一轮空前的放贷热潮，在金融危机当中为经济增长提供推动力。
Most of the country’s leading banks have much healthier balance sheets, but BoComm had been a laggard with a core capital adequacy ratio of 9.24 per cent, below the 9.5 per cent level regulators have demanded of the country’s biggest banks. 　　　　
中国多数主要银行的资产负债表都要健康得多，但交通银行却一直落在后面，其核心资本充足率仅为9.24%，低于监管机构对大型银行9.5%的核心资本充足率要求。
In raising Rmb56.6bn ($8.9bn), BoComm’s private placement will make it among the best capitalised of China’s banks. 　　　　
在此次定向增发融资566亿元人民币（合89亿美元）之后，交通银行将成为中国资本最充足的银行之一。
It was the single biggest capital raising since the $10bn initial public offering by Glencore, the commodities trader, last May. 　　　　
去年5月，大宗商品交易商嘉能可(Glencore)通过首次公开发行筹资100亿美元，此次交通银行定向增发是自那以来规模最大的一起融资行动。
“This capital raising had been expected, but we did not expect to see it happen until later on in the middle of the year,” said a Hong Kong-based analyst. 　　　　
一位驻香港的分析师表示，“这次增资是意料之中的事，但我们本以为会晚一些，要等到年中前后。”
“The statement says that it is for core capital but they have said they want to grow risk-weighted assets by 15 per cent, so a lot of this will be used to fund growth, quite aggressive growth.” 　　　　
“交通银行在公告中表示，增资目的是为了补充核心资本金，但他们曾经表示打算把风险加权资产增加15%，所以此次所筹资金中很大一部分将用来资助增长——相当积极的增长。”
Industrial Bank, a midsized Chinese lender, last month raised $4.2bn in a private placement, and Minsheng Bank, another midsized lender, has received approval from regulators to raise nearly $2bn. 　　　　
上个月，中国一家中等规模的银行兴业银行(Industrial Bank)通过定向增发融资42亿美元；另一家中等规模银行民生银行(Minsheng Bank)也已获得监管机构的批准，打算融资近20亿美元。
But overall, analysts say, capital pressure has begun to ease on Chinese banks. 　　　　
但分析师表示，总体看来，中国各银行的资本压力已开始缓解。
“Potential monetary loosening could provide some support,” said Victor Wang of Macquarie Securities. 　　　　
麦格理证券(Macquarie Securities)的王瑶平(Victor Wang)表示，“中国货币政策有望放宽，这也会有所帮助。”
“On a 12-month horizon, we remain positive on the sector.” 　　　　
“未来12个月，我们仍看好银行业。”
The Chinese central bank has trimmed banks’ required reserves and also used its open-market operations to inject more cash in the economy, reducing banks’ funding costs. 　　　　
中国央行已小幅下调了银行存款准备金率，还通过公开市场操作向经济注入了更多现金，降低了各银行的融资成本。
Moreover, the Chinese Banking Regulatory Commission has softened its stance on Basel III. 　　　　
此外，中国银监会(CBRC)也放松了对国内银行执行《巴塞尔协议III》(Basel III)新规的要求。
Beijing initially wanted banks to achieve higher capital requirements, on a shorter timeline, than their global counterparts. 　　　　
起初，中国政府曾希望国内银行在短期内达到比全球性银行更高的资本要求。

本文关键字: 交通银行