By William Gullotti
Buffalo, N.Y., Aug. 26 – Chongqing Rural Commercial Bank Co., Ltd. said it completed the issuance of RMB 4 billion of 4% perpetual capital bonds, according to a listing notice on Thursday.
The initial rate will be adjusted after five years, and then at five-year intervals thereafter.
The bonds will be callable after five years.
According to the notice, the bank was originally approved to issue up to RMB 8 billion of bonds.
Proceeds will be used to replenish the bank’s tier 1 working capital.
The bank is based in Chongqing, China.
| Issuer: | Chongqing Rural Commercial Bank Co., Ltd.
|
| Issue: | Capital bonds
|
| Amount: | RMB 4 billion
|
| Coupon: | 4% initially, resets after five years and then at five-year intervals thereafter
|
| Call features: | Callable after five years, and then on each dividend payment date thereafter
|
| Issue date: | Aug. 24
|
| Settlement date: | Aug. 26
|
© 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.
