By Wendy Van Sickle
Columbus, Ohio, June 8 – Industrial and Commercial Bank of China Ltd. issued RMB 70 billion of undated 4.04% tier 1 capital bonds, according to a listing notice.
The coupon will reset every five years.
The bonds will be redeemable after five years.
Proceeds will be used to replenish the company’s tier 1 capital.
The lender is based in Beijing.
| Issuer: | Industrial and Commercial Bank of China Ltd.
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| Issue: | Tier 1 capital bonds
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| Amount: | RMB 70 billion
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| Tenor: | Perpetual
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| Coupon: | 4.04% for first five years and will then reset every five years
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| Call option: | After five years
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| Announcement date: | June 8
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