Rural Commercial Bank in Shaoxing Receives Approval for Capital Bond Issuance

Deep News07-15 19:03

On July 15th, Zhejiang Shaoxing Ruifeng Rural Commercial Bank Co.,Ltd. announced that it has received a formal approval from the People's Bank of China. The central bank has granted permission for the bank to issue capital replenishment bonds in both the national interbank market and overseas markets.

The approval is valid until June 30, 2027. During this period, the bank is authorized to issue new capital replenishment bonds with an outstanding balance not exceeding 1.5 billion yuan, and the total outstanding balance of such bonds must also remain at or below 1.5 billion yuan.

The bank has the discretion to determine the timing of the issuance in tranches within the validity period of the approval.

The bank stated that it will strictly comply with all relevant regulations, including the Commercial Bank Capital Management Measures and the rules governing financial bond issuance in the national interbank bond market. It will properly manage the issuance, administration, and related information disclosure for these capital replenishment bonds, which are classified as Tier 2 capital instruments.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment