Chicago, Nov. 29 – Industrial and Commercial Bank of China Ltd. issued RMB 30 billion of undated 3.65% tier 1 capital bonds, according to a listing notice.
The coupon will reset every five years.
The bonds will be redeemable after five years on every dividend payment date.
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.
|
| Issue: | Tier 1 capital bonds
|
| Amount: | RMB 30 billion
|
| Tenor: | Perpetual
|
| Coupon: | 3.65% for first five years and will then reset every five years
|
| Call option: | After five years on every dividend payment date
|
| Trade date: | Nov. 24
|
| Settlement date: | Nov. 26
|
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