By Sarah Lizee
Olympia, Wash., March 18 – Luzhou Bank Co., Ltd. sold RMB 1 billion of 5.8% capital bonds without a fixed term at par on March 16, according to a notice of listing on the Stock Exchange of Hong Kong Ltd.
The coupon will reset every five years.
The issuer will have conditional redemption rights on every distribution payment date from and including the fifth distribution payment date.
Proceeds will be used to replenish the bank’s additional tier 1 capital.
The bank received approval on Dec. 31 from both the China Banking and Insurance Regulatory Commission Sichuan Office and the People’s Bank of China to issue up to RMB 1.7 billion of capital bonds. The 5.8% bonds represent the first tranche.
The baking services provider is based in Luzhou, China.
| Issuer: | Luzhou Bank Co., Ltd.
|
| Issue: | Capital bonds without a fixed term, first tranche
|
| Amount: | RMB 1 billion
|
| Coupon: | 5.8% initial rate, resettable every five years
|
| Price: | Par
|
| Call option: | Callable on every distribution payment date from and including the fifth distribution payment date
|
| Pricing date: | March 16
|
| Settlement date: | March 18
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
