Bank of Communications (SHA:601328, HKG:3328) raised 40 billion yuan in 10-year fixed-rate bonds.
Proceeds will be used to supplement Tier 2 capital, according to a Thursday filing with the Shanghai bourse.
The bonds carry a coupon rate of 1.89% and include a conditional issuer call option at the end of the fifth year.
Shares of the bank rose 1% in recent trade on the Shanghai and Hong Kong bourses.
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