By Marisa Wong
Morgantown, W.Va., Sept. 28 – Bank of China Ltd. said it sold RMB 30 billion of tier 2 capital bonds on Tuesday.
The 10-year bonds carry a fixed coupon of 4.45% and are callable at the end of the fifth year.
Proceeds will be used to replenish the bank’s tier 2 capital.
The issuance was completed on Thursday.
The Beijing-based bank is authorized to issue tier 2 capital instruments totaling up to RMB 60 billion, or its equivalent in other currencies, by the end of 2018.
| Issuer: | Bank of China Ltd.
|
| Issue: | Tier 2 capital bonds
|
| Amount: | RMB 30 billion
|
| Maturity: | 10 years
|
| Coupon: | 4.45%
|
| Call option: | At end of fifth year
|
| Pricing date: | Sept. 26
|
| Settlement date: | Sept. 28
|
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