BANK OF CHINA (03988) has announced the redemption of its subordinated capital bonds. On March 17, 2021, the bank issued RMB 25 billion in write-down subordinated capital bonds, with the issuance completion announced on March 19, 2021. The bonds were divided into two series. Series one consisted of 10-year fixed-rate bonds with an issuance size of RMB 15 billion. According to the terms of the prospectus, these bonds included an issuer call option, allowing the bank to redeem them at the end of the fifth year, which fell on March 19, 2026. As of the announcement date, the bank has exercised this option and fully redeemed the bonds.
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