According to an announcement from ICBC (01398), with approval from relevant regulatory authorities, Industrial and Commercial Bank of China Limited (the Bank) has completed the issuance of its 2026 Tier 2 Capital Bonds (Sixth Tranche) (Bond Connect) (the Bonds) in the national interbank bond market.
The Bonds were issued in two tranches with a total size of RMB 60 billion. Tranche one is a 10-year fixed-rate tranche with a conditional issuer redemption right at the end of the fifth year, issued at RMB 30 billion with a coupon rate of 1.76%. Tranche two is a 15-year fixed-rate tranche with a conditional issuer redemption right at the end of the tenth year, issued at RMB 30 billion with a coupon rate of 1.95%.
After deducting issuance expenses, the proceeds from the Bonds will be used to replenish the Bank's Tier 2 capital in accordance with applicable laws and the approval of the competent authorities.
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ICBC Completes Issuance of 2026 Tier 2 Capital Bonds (Sixth Tranche) via Bond Connect
Stock News10-15
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