Industrial Bank Completes Issuance of 30 Billion Yuan Perpetual Capital Bonds via Bond Connect

Deep News04-24

Industrial Bank Co., Ltd. announced the successful issuance of its 2026第一期无固定期限资本债券(债券通) in the national interbank bond market. The issuance received approval from the National Financial Regulatory Administration and the People's Bank of China.

The bonds, with a total issuance scale of 30 billion yuan, were recorded on April 22, 2026, and the issuance was completed on April 24, 2026. They carry a coupon rate of 1.99% for the first five years, which will be adjusted every five years thereafter. The issuer holds a conditional redemption right at each interest payment date starting from the fifth year.

The proceeds from the bond issuance will be used to replenish the bank's additional tier 1 capital, in accordance with applicable laws and regulatory approvals.

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