By Marisa Wong
Madison, Wis., June 8 - Agricultural Bank of China Ltd. announced it completed the issuance of RMB 50 billion subordinated bonds on June 7.
The bonds carry a coupon of 5.3% and have a maturity of 15 years.
The bonds are convertible after 10 years.
Proceeds will be used to replenish the subordinated 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.
|
| Issue: | Subordinated bonds
|
| Amount: | RMB 50 billion
|
| Maturity: | 15 years
|
| Coupon: | 5.3%
|
| Conversion: | After 10 years
|
| Settlement date: | June 7
|
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