ABC Successfully Issues 2026 TLAC Non-Capital Bonds (Series II) via Bond Connect

Stock News05-19

Agricultural Bank of China Limited (ABC) has announced the successful issuance of its "2026 Total Loss-Absorbing Capacity Non-Capital Bonds (Series II) (Bond Connect)" in the national interbank bond market, following approval from the relevant regulatory bodies.

The bonds were priced on May 15, 2026, and the issuance was completed on May 19, 2026. The total issuance size amounted to RMB 30 billion, structured across three tranches.

Tranche 1 is a 4-year fixed-rate bond with an issuance scale of RMB 16 billion and a coupon rate of 1.75%. It includes a conditional issuer call option at the end of the third year.

Tranche 2 is a 6-year fixed-rate bond with an issuance scale of RMB 13 billion and a coupon rate of 1.92%. It includes a conditional issuer call option at the end of the fifth year.

Tranche 3 is an 11-year fixed-rate bond with an issuance scale of RMB 1 billion and a coupon rate of 2.23%. It includes a conditional issuer call option at the end of the tenth year.

After deducting issuance expenses, the net proceeds from this bond issuance will be used to enhance the bank's total loss-absorbing capacity, in accordance with applicable laws and regulatory approvals.

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