ICBC Completes 20 Billion Yuan Issuance of Undated Additional Tier 1 Capital Bonds

MT Newswires Live06-09

Industrial and Commercial Bank of China (SHA:601398, HKG:1398)has finalized the issuance of its 2026 Undated Additional Tier 1 Capital Bonds (Series 2) in the national interbank bond market.

The bookrunning took place on June 4, with issuance completed by June 8, raising 20 billion yuan, according to a filing with the Hong Kong Stock Exchange.

The bonds carry an initial distribution rate of 1.89% for the first five years, with adjustments every five years thereafter, and the bank holds conditional redemption rights starting from the fifth year.

Proceeds will be used to replenish the bank's additional tier 1 capital, subject to regulatory approvals.

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