BANK OF CHINA (03988) announced that on December 10, 2020, the bank issued RMB 20 billion worth of write-down perpetual capital bonds (the Bonds) and released a completion notice for the issuance on December 14, 2020. According to the terms of the Bonds' prospectus, the issuer holds a redemption right, allowing it to redeem the Bonds at the end of the fifth year (with payment deferred to the next business day if it falls on a non-working day). As of the announcement date, the bank has exercised its redemption right and fully redeemed the Bonds.
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