ABC completes RMB50.00 billion TLAC-eligible non-capital bond issuance, Series 1

Bulletin Express04-16

ABC (Agricultural Bank of China Limited) has finalised the issuance of its 2026 Total Loss-Absorbing Capacity (TLAC) Eligible Non-Capital Bonds (Series 1) via Bond Connect, raising RMB50.00 billion in the National Interbank Bond Market.\n\nThe book-building was conducted on 14 April 2026, and settlement was completed on 16 April 2026. The offering was split into three fixed-rate tranches:\n• Tranche 1: RMB20.00 billion, four-year maturity, 1.80 % coupon, callable on the last day of year three.\n• Tranche 2: RMB20.00 billion, six-year maturity, 2.00 % coupon, callable on the last day of year five.\n• Tranche 3: RMB10.00 billion, eleven-year maturity, 2.27 % coupon, callable on the last day of year ten.\n\nNet proceeds, after deducting issuance expenses, are earmarked to strengthen the bank’s TLAC in line with regulatory approvals. The issuance follows shareholder approval granted at the bank’s second extraordinary meeting on 28 November 2025.

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