ICBC Issues 20 Billion Yuan Bonds to Replenish Capital
MT Newswires Live
Sep 11
Industrial and Commercial Bank of China (SHA:601398, HKG:1398) has completed the issuance of 20 billion yuan in undated additional tier 1 capital bonds, according to a Thursday filing with the Hong Kong bourse.
The bonds have a coupon rate of 1.86% for the first five years and are adjustable every five years. They include a conditional issuer redemption option valid on the interest payment date in the fifth year and every subsequent interest date.
Proceeds from the issuance will be used to replenish the bank's additional tier 1 capital.
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