China Merchants completes redemption of RMB 20 billion of bonds

By Mary-Katherine Stinson

Lexington, Ky., Nov. 21 – China Merchants Bank Co., Ltd. completed the full redemption of its 10-year tier 2 capital bonds, according to a notice.

The bank exercised its optional redemption right on the fifth anniversary of the issuance of the bonds, which fell on Nov. 19. As it fell on a holiday, the redemption was extended to Nov. 20. No additional interest was paid because of the extension.

The bonds were issued from Nov. 15, 2018 to Nov. 19, 2018 in an original issue size of RMB 20 billion.

The commercial bank is based in Shenzhen, China.

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