On November 17, ICBC announced that it had fully redeemed RMB 90 billion in Tier 2 capital bonds issued in two tranches in September and November 2020.
The 10-year fixed-rate bonds were issued in the national interbank bond market. According to the bond prospectus, ICBC had the option to redeem the bonds at face value on the last day of the fifth interest accrual year—September 24, 2025, and November 16, 2025, respectively.
As of the announcement date, ICBC has exercised this redemption right and fully repurchased the bonds.
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