Guangzhou Rural Commercial Bank redeems RMB 10 billion tier 2 bonds

By William Gullotti

Buffalo, N.Y., March 23 – China’s Guangzhou Rural Commercial Bank Co. Ltd. exercised its option to redeem all of its 4.9% tier 2 capital bonds at par, according to a notice on Thursday.

The bank initially issued RMB 10 billion of the 10-year bonds at par on March 23, 2018.

The issuer had the option to redeem the bonds on the last day of the fifth interest-bearing year of the bonds, March 23.

The bank opted to exercise its option and as a result has redeemed the bonds in full.

The bank is based in Guangzhou, China.

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