Chicago, Feb. 6 – Agricultural Bank of China Ltd. completed the issuance of RMB 70 billion of tier 2 capital, according to an announcement.
The two-part transaction in the national interbank bond market included two equal-sized tranches of RMB 35 billion.
Tranche 1 priced as a 2.76% 10-year tranche. The bonds are redeemable on the last day of the fifth anniversary.
Tranche 2 priced as a 2.8% 15-year note. An optional redemption could take place on the last day of the 10th anniversary.
Proceeds will be used to boost the tier 2 capital of the bank.
Based in Beijing, the commercial bank has branches in mainland China, Hong Kong and Singapore.
| Issuer: | Agricultural Bank of China Ltd.
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| Amount: | RMB 70 billion
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| Issue: | Tier 2 capital notes
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| Settlement date: | Feb. 6
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| 10-year notes
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| Amount: | RMB 35 billion
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| Tenor: | 10 years
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| Coupon: | 2.76%
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| Call features: | On the last day of fifth year
|
|
|
| 15-year notes
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| Amount: | RMB 35 billion
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| Tenor: | 15 years
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| Coupon: | 2.8%
|
| Call features: | On the last day of 10th year
|
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