By Marisa Wong
Madison, Wis., Dec. 20 - Agricultural Bank of China Ltd. said it completed a RMB 50 billion issue of subordinated bonds on Thursday.
The 15-year bonds have a coupon of 4.99% and are callable after 10 years.
The bank intends to use proceeds to replenish its supplementary capital.
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: | 4.99%
|
| Call option: | At the end of the 10th year
|
| Settlement date: | Dec. 20
|
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