Agricultural Bank of China (SHA:601288, HKG:1288) completed the issue of 30 billion yuan of bonds divided into three tranches on Tuesday, according to a same-day Hong Kong bourse filing.
The issue comprises 16 billion yuan of four-year bonds with an interest rate of 1.75%, 13 billion yuan of six-year bonds carrying a 1.92% interest rate, and 1 billion yuan of 11-year bonds with an interest rate of 2.23%.
The lender has a conditional redemption right on the third, fifth, and 10 year anniversaries for the respective bonds.
The Chinese bank will use proceeds to improve its loss-absorbing capacity.
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