Postal Savings Bank of China redeems $7.25 billion 4.5% preference shares

By William Gullotti

Buffalo, N.Y., Sept. 28 – Postal Savings Bank of China Co., Ltd. announced it completed the redemption of its $7.25 billion 4.5% non-cumulative perpetual offshore preference shares, according to a notice on Wednesday.

The $20-par shares were issued Sept. 27, 2017 and redeemed at par plus accrued interest on the Sept. 27 first call date, which was also the first interest reset date.

The offshore preference shares will be delisted from the Stock Exchange of Hong Kong Ltd. on Sept. 28.

Postal Savings is a Beijing-based bank.

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