Industrial And Commercial Bank Of China Limited has announced the successful completion of its 2026 first tranche perpetual capital bonds issuance via the Bond Connect program in the national interbank bond market. The issuance received approval from the relevant regulatory authorities.
The bond offering was book-built on April 16, 2026, and finalized on April 20, 2026. The total issuance size reached 30 billion yuan. These bonds carry a coupon rate of 2.01% for the initial five-year period, with adjustments occurring every five years thereafter. The issuer holds a conditional redemption option exercisable on each interest payment date starting from the fifth year.
Proceeds from this bond issuance will be utilized to strengthen the bank's additional tier 1 capital, in compliance with applicable laws and regulatory approvals.
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