Bank of China Limited has finalised the issuance of RMB30.00 billion write-down undated capital bonds in China’s interbank bond market, with settlement completed on 22 July 2026 following a launch on 20 July 2026.
The instruments carry an initial coupon of 1.91% for the first five years, after which the rate will reset every five years. From the fifth year onward, the bank retains the option to redeem the bonds on any distribution payment date.
Proceeds are earmarked to bolster Bank of China’s additional Tier 1 capital, in line with approvals obtained from relevant regulatory authorities.
The transaction forms part of a broader authorisation granted by shareholders on 18 July 2025, permitting the issuance of up to RMB450.00 billion (or foreign-currency equivalent) in capital instruments.
