By William Gullotti
Buffalo, N.Y., March 22 – 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 an announcement on Wednesday.
The first tranche is RMB 40 billion of 3.49% bonds with a tenor of 10 years. The 10-year bonds are callable at the end of the fifth year.
The second tranche, RMB 20 billion of 3.61% bonds with a tenor of 15 years, will be 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: | March 20
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| Settlement date: | March 22
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| 10-year bonds
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| Amount: | RMB 40 billion
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| Tenor: | 10 years
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| Coupon: | 3.49%
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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 20 billion
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| Tenor: | 15 years
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| Coupon: | 3.61%
|
| Call option: | At the end of 10th year
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