Industrial and Commercial Bank of China (SHA:601398, HKG:1398) issued Tier 2 capital bonds worth 50 billion yuan, according to a Hong Kong bourse disclosure on Monday.
The bank's Shanghai shares dropped 2% during Tuesday's midday trade.
The fixed-rate bond has an interest rate of 1.95% and a term of ten years, with the ICBC given the option to redeem the bond at the end of the fifth year.
The proceeds of the issuance will be used to boost the bank's tier 2 capital.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments