By William Gullotti
Buffalo, N.Y., April 12 – Industrial and Commercial Bank of China Ltd. sold RMB 55 billion of tier 2 capital bonds in tranches due in 10 and 15 years on China’s national interbank bond market, according to an announcement on Wednesday.
ICBC sold RMB 35 billion of 10-year bonds with a coupon of 3.49% and RMB 20 billion of 15-year bonds with a coupon of 3.58%.
As with the tier 2 capital bonds issued in 2022, the 10-year bonds are conditionally redeemable after five years, and the 15-year bonds are conditionally callable after 10 years.
Proceeds will be used to replenish tier 2 capital.
ICBC is based in Beijing.
| Issuer: | Industrial and Commercial Bank of China Ltd.
|
| Amount: | RMB 55 billion
|
| Issue: | Tier 2 capital bonds, 2023 first tranche
|
| Announcement date: | April 12
|
|
|
| 10-year bonds
|
| Amount: | RMB 35 billion
|
| Tenor: | 10 years
|
| Coupon: | 3.49%
|
| Call option: | Conditionally callable after five years
|
|
|
| 15-year bonds
|
| Amount: | RMB 20 billion
|
| Tenor: | 15 years
|
| Coupon: | 3.58%
|
| Call option: | Conditionally callable after 10 years
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
