On May 13, Industrial Bank Co.,Ltd. announced that it has successfully issued the first tranche of its 2026 Tier 2 capital bonds in the national interbank bond market. The issuance, with a total value of 30 billion yuan, received approval from the National Financial Regulatory Administration and the People's Bank of China.
The bonds have a tenor of 10 years and carry a coupon rate of 1.99%. They include an issuer call option, exercisable by the bank at the end of the fifth year, subject to certain conditions.
The net proceeds from the bond issuance, after deducting related expenses, will be used in full to replenish the bank's Tier 2 capital. This capital injection is intended to support the bank's ongoing and stable business development, in accordance with applicable laws and regulatory approvals.
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