Industrial and Commercial Bank of China Limited (ICBC) has announced the full redemption of its tier 2 capital bonds, originally issued in two tranches totaling RMB90 billion in September and November 2020. These fixed-rate bonds, with a 10-year term, included an issuer redemption option at the end of the fifth interest accrual year. ICBC has exercised this right and completed the full redemption of the bonds as of the latest announcement.
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