Published on 6/20/2014 in the Prospect News Emerging Markets Daily.
New Issue: China’s Chongqing Rural sells RMB 5 billion 6.38% tier 2 bonds due 2024
By Marisa Wong
Madison, Wis., June 20 – Chongqing Rural Commercial Bank Co., Ltd. said it issued RMB 5 billion of 6.38% tier 2 capital bonds in China’s interbank bond market on Thursday.
The 10-year bonds are callable at the end of the fifth year.
Proceeds will be used to replenish the Chongqing, China-based bank’s tier 2 capital.
| Issuer: | Chongqing Rural Commercial Bank Co., Ltd.
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| Issue: | Tier 2 capital bonds
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| Amount: | RMB 5 billion
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| Maturity: | 10 years
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| Coupon: | 6.38%
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| Call option: | At end of fifth year
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| Settlement date: | June 19
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