China Zheshang Bank Co., Ltd. (CZBANK) announced that it has successfully completed the issuance of its first tranche of perpetual capital bonds for 2026, utilizing the Bond Connect scheme.
Following approval from the National Financial Regulatory Administration and the People's Bank of China, the bank issued the "CZBANK 2026 Perpetual Capital Bond (Tranche 1) (Bond Connect)" on the interbank bond market. The book-building process took place on August 5, 2026, with the issuance finalized on August 7, 2026.
The total issuance size reached 30 billion yuan. The bond carries a coupon rate of 1.95% for the first five years, with the rate subject to reset every five years thereafter. The issuer retains a conditional redemption right, exercisable at the fifth year and on each subsequent coupon payment date.
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