China’s Bank of Qingdao plans up to RMB 10 billion tier 1 capital bonds

By Wendy Van Sickle

Columbus, Ohio, July 14 – Bank of Qingdao Co., Ltd. is proposing to issue up to RMB 10 billion of fixed-rate undated capital bonds, according to a company announcement.

The issuance was approved by the company’s board on July 14 and is subject to shareholder approval.

Proceeds from the bonds will be used to replenish tier 1 capital.

The bank is based in Qingdao, China.

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