Ping An Bank Completes Issuance of 2025 Perpetual Capital Bonds (Second Tranche) (Bond Connect)

Deep News11-21

On November 21, Ping An Bank Co., Ltd. announced that, with approval from relevant regulatory authorities, it has successfully issued the 2025 Perpetual Capital Bonds (Second Tranche) (Bond Connect) (hereinafter referred to as "the Bonds") in the national interbank bond market.

The Bonds were recorded on November 19, 2025, and the issuance was completed on November 21, 2025. The total issuance size amounted to RMB 30 billion, with an initial coupon rate of 2.32% for the first five years. The rate will be adjusted every five years thereafter. The issuer retains a conditional redemption right on each interest payment date starting from the fifth year.

Proceeds from the Bonds will be used to replenish the bank's Tier 1 capital, subject to applicable laws and regulatory approvals.

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