Bank of Ningbo Completes Issuance of 16 Billion Yuan Perpetual Capital Bonds

Deep News05-28

Bank Of Ningbo Co.,Ltd. announced that, with approval from the Ningbo Financial Supervisory Bureau and the People's Bank of China, the company has recently issued the "Bank Of Ningbo Co.,Ltd. 2026 Phase I Perpetual Capital Bonds" in the national interbank bond market.

The issuance scale of this bond is 16 billion yuan. The coupon rate for the first five years is set at 1.97%, with adjustments every five years thereafter. The issuer holds a conditional redemption right at each interest payment date starting from the fifth year.

The funds raised from this bond issuance will be used to supplement the company's additional tier 1 capital, in accordance with applicable laws and regulatory approvals.

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