BANKCOMM finalises RMB40.00 billion 2026 undated AT1 Bond Connect issuance at 1.94% coupon

Bulletin Express05-25

Bank of Communications Co., Ltd. (BANKCOMM) has completed the issuance of its “2026 Undated Additional Tier 1 Capital Bonds (Series 1)” in China’s interbank bond market under the Bond Connect scheme, according to a company announcement dated 25 May 2026.

The offering raised RMB40.00 billion, carrying an initial coupon of 1.94% for the first five years. The coupon will be reset every five years thereafter. The bonds include a conditional redemption option exercisable by the issuer on any interest payment date from the fifth year onward.

Net proceeds, after deduction of issuance expenses, will be used to replenish BANKCOMM’s additional Tier 1 capital, subject to regulatory approvals.

The issuance has received all requisite regulatory clearances. The board of directors is chaired by Executive Director Mr. Ren Deqi, with Mr. He Zhaobin serving as Company Secretary.

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