By Marisa Wong
Morgantown, W.Va., Oct. 17 – Agricultural Bank of China Ltd. said it completed an issuance of RMB 40 billion of tier 2 capital bonds on Tuesday.
The 10-year bonds carry a coupon of 4.45%, according to a company announcement.
The bonds are callable at the end of the fifth year.
Proceeds will be used to replenish the bank’s tier 2 capital.
Based in Beijing, the commercial bank has branches in mainland China, Hong Kong and Singapore.
| Issuer: | Agricultural Bank of China Ltd.
|
| Issue: | Tier 2 capital bonds
|
| Amount: | RMB 40 billion
|
| Maturity: | 10 years
|
| Coupon: | 4.45%
|
| Call option: | At end of fifth year
|
| Settlement date: | Oct. 17
|
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