Chicago, Dec. 5 – Huishang Bank Corp. Ltd. issued RMB 10 billion 4.9% perpetual bonds, according to a notice.
The coupon rate is subject to adjustment every five years.
The notes may be called in year five and on each subsequent distribution payment date.
Proceeds will be used to replenish the bank’s tier 1 capital.
The issuer is a Hefei, China-based bank.
| Issuer: | Huishang Bank Corp. Ltd.
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| Issue: | Perpetual tier 1 bonds
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| Amount: | RMB 10 billion
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| Maturity: | Perpetual
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| Coupon: | 4.9% initially, subject to adjustment every five years
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| Call: | After five years, on distribution payment dates
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| Pricing date: | Nov. 29
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| Settlement date: | Dec. 3
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