By William Gullotti
Buffalo, N.Y., Aug. 2 – Weihai City Commercial Bank Co., Ltd. announced it issued RMB 2.7 billion of tier 2 capital bonds with an initial coupon of 3.8%, according to a notice on Tuesday.
The bonds will be conditionally callable at the end of the fifth year.
The bonds were issued in China’s national inter-bank bond market.
Proceeds will be used to replenish the bank’s tier 2 capital.
The issuer is a commercial bank based in Weihai, China.
| Issuer: | Weihai City Commercial Bank Co., Ltd.
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| Amount: | RMB 2.7 billion
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| Issue: | 2022 tier 2 capital bonds
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| Coupon: | 3.8%
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| Call option: | Conditionally after five years
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| Pricing date: | July 29
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| Issue date: | Aug. 2
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