Weihai City Bank approved for up to RMB 5 billion bonds

By William Gullotti

Buffalo, N.Y., June 30 – Weihai City Commercial Bank Co., Ltd. received approval to issue up to RMB 5 billion of financial bonds, according to an announcement on Friday.

The authorization is contingent upon the year-end balance of financial bonds not exceeding RMB 19.8 billion in 2023. Among them, the existence of capital bonds such as tier 2 capital bonds and perpetual capital bonds shall not exceed 50% of the net core tier 1 capital.

The financial bonds will be issued in China’s interbank bond market and in overseas markets.

The issuer is a commercial bank based in Weihai, China.

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