By Marisa Wong
Morgantown, W.Va., March 24 – Postal Savings Bank of China Co., Ltd. announced it issued RMB 20 billion of tier 2 capital bonds on Friday.
The 10-year bonds carry a fixed coupon of 4˝%.
The bonds are conditionally redeemable at the end of the fifth year.
Proceeds will be used to replenish the bank’s tier 2 capital.
The Beijing-based bank announced in September 2016 that it obtained regulatory approval to issue up to RMB 50 billion of tier 2 capital bonds. The bank sold RMB 30 billion of tier 2 bonds in October, as previously reported.
| Issuer: | Postal Savings Bank of China Co., Ltd.
|
| Issue: | Tier 2 capital bonds
|
| Amount: | RMB 20 billion
|
| Maturity: | 10 years
|
| Coupon: | 4˝%
|
| Call option: | Conditionally at the end of the fifth year
|
| Settlement date: | March 24
|
© 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.
