ICBC Finalizes Issuance of 20 Billion Yuan in Perpetual Capital Bonds

Deep News07-10 17:21

The Industrial and Commercial Bank of China has announced the successful completion of a recent bond issuance.

In a statement released today, the bank confirmed that its 2026 Perpetual Capital Bonds (Series III) (Bond Connect) have been fully placed in the national interbank bond market, following the receipt of necessary regulatory approvals.

The bonds were priced on July 8, 2026, with the issuance finalized on July 10, 2026. The total issuance size amounts to 20 billion yuan.

The bonds carry an initial coupon rate of 1.89% for the first five years, with the rate subject to adjustment every five years thereafter. The issuer holds a conditional redemption right on each interest payment date from the fifth year onwards.

Proceeds from the bond issuance will be used to replenish the bank's Additional Tier 1 capital, in accordance with applicable laws and regulatory authorizations.

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