By Wendy Van Sickle
Columbus, Ohio, Oct. 26 – Bank of China Ltd. completed the issuance of RMB 60 billion tier 2 capital bonds in two parts in China’s domestic interbank bond market, according to a notice on Wednesday.
The bonds include RMB 45 billion of 3.02% bonds that have a tenor of 10 years and are callable at the end of the fifth year.
And RMB 15 billion of 3.34% bonds have a tenor of 15 years and are callable at the end of the 10th year.
Proceeds from the issuance will be used to replenish the bank’s tier 2 capital.
The bank provides banking services to individuals, enterprises and other clients.
Issuer: | Bank of China Ltd.
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Amount: | RMB 60 billion
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Issue: | Tier-2 capital bonds
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Issue date: | Oct. 24
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Settlement date: | Oct. 26
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10-year bonds
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Amount: | RMB 45 billion
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Tenor: | 10 years
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Coupon: | 3.02%
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Call option: | At the end of fifth year
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15-year bonds
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Amount: | RMB 15 billion
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Tenor: | 15 years
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Coupon: | 3.34%
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Call option: | At the end of 10th year
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