By Wendy Van Sickle
Columbus, Ohio, April 26 – Industrial and Commercial Bank of China Ltd. sold RMB 55 billion of bonds in tranches due in 10 and 15 years, according to a notice.
A RMB 45 billion 10-year tranche carries a coupon of 4.4% and is conditionally redeemable after five years.
The RMB 10 billion 15-year tranche carries a coupon of 4.69% and is conditionally redeemable 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.
|
| Issue: | Tier 2 capital bonds
|
| Amount: | RMB 55 billion
|
| Announcement date: | April 26
|
|
|
| 10-year bonds
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| Amount: | RMB 45 billion
|
| Maturity: | 2029
|
| Coupon: | 4.4%
|
| Call option: | Conditionally callable after five years
|
|
|
| 15-year bonds
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| Amount: | RMB 10 billion
|
| Maturity: | 2034
|
| Coupon: | 4.69%
|
| Call option: | Conditionally callable after 10 years
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