Chicago, Nov. 17 – China’s Bank of Communications Co., Ltd. recently issued RMB 30 billion of tier 2 capital bonds under the bank’s approval to issue up to RMB 100 billion of capital bonds between June 27, 2023 and the end of 2024, according to a press release.
The recent issue included two RMB 15 billion bonds: 3.3% 10-year bonds and 3.4% 15-year bonds.
The bonds will each be callable five years before their maturity dates.
Proceeds will be used to supplement the bank’s tier 2 capital and promote steady development of the business.
Bank of Communications is based in Shanghai.
| Issuer: | Bank of Communications Co., Ltd.
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| Amount: | RMB 30 billion
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| Issue: | Tier 2 capital bonds
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| Trade date: | Nov. 15
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| Settlement date: | Nov. 17
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| Distribution: | National interbank bond market
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| 10-year bonds
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| Amount: | RMB 15 billion
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| Tenor: | 10 years
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| Coupon: | 3.3%
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| Call features: | At the end of fifth year
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| 15-year bonds
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| Amount: | RMB 15 billion
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| Tenor: | 15 years
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| Coupon: | 3.4%
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| Call features: | At the end of 10th year
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