By Marisa Wong
Madison, Wis., June 13 - Industrial and Commercial Bank of China Ltd. said it issued RMB 20 billion of subordinated bonds in China's interbank bond market on June 11 through June 13.
The bonds carry a fixed coupon of 4.99%, have a maturity of 15 years and are callable after 10 years.
Proceeds will be used to replenish subordinated capital.
The Beijing-based bank announced in September 2011 that it planned to issue up to RMB 70 billion of subordinated bonds by the end of June. The bank previously issued RMB 50 billion of 5½% subordinated bonds in December.
| Issuer: | Industrial and Commercial Bank of China Ltd.
|
| Issue: | Subordinated bonds
|
| Amount: | RMB 20 billion
|
| Maturity: | 15 years
|
| Coupon: | 4.99%
|
| Call option: | After 10 years
|
| Issue dates: | June 11 through June 13
|
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