By Wendy Van Sickle
Columbus, Ohio, Dec. 5 – Bank of China Ltd. issued RMB 30 billion of tier 2 capital bonds in two tranches, according to a notice.
The offering consists of a RMB 15 billion tranche of 3.3% 10-year fixed rate bonds with an issuer’s redemption right at the end of the fifth year.
A RMB 15 billion second tranche of bonds was issued with a term of 15 years and a coupon rate of 3.37% with an issuer’s redemption right at the end of the 10th year.
On June 30, the annual general meeting of the bank approved the issuance of capital instruments up to a maximum of RMB 450 billion or equivalent in foreign currencies.
Proceeds 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 30 billion
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Issue: | Tier 2 capital bonds
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Issue date: | Dec. 1
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Listing date: | Dec. 5
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Tranche 1
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Amount: | RMB 15 billion
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Maturity: | 2033
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Coupon: | 3.3%
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Call features: | After five years
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Tranche 2
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Amount: | RMB 15 billion
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Maturity: | 2038
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Coupon: | 3.37%
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Call features: | After 10 years
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