By William Gullotti
Buffalo, N.Y., April 22 – China Bohai Bank Co., Ltd. issued RMB 14 billion of 2.77% 10-year tier 2 capital bonds on April 22, according to an announcement on Monday.
The capital bonds come with five years of call protection and will only be callable by the bank, subject to certain conditions, on that date.
Proceeds will be used to replenish the bank’s tier 2 capital.
The commercial bank is based in Tianjin, China.
| Issuer: | China Bohai Bank Co., Ltd.
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| Amount: | RMB 14 billion
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| Issue: | Tier 2 capital bonds
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| Tenor: | 10 years
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| Coupon: | 2.77%
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| Call: | Par call exercisable at the end of five years
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| Issue date: | April 22
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