By Wendy Van Sickle
Columbus, Ohio, Nov. 15 – China’s Bank of Communications Co., Ltd. announced it completed the sale of RMB 50 billion of tier 2 capital bonds in two parts on Tuesday.
The issuance comprised RMB 37 billion of 3.03% 10-year fixed-rate bond with a redemption right at the end of the fifth year and RMB 13 billion of 3.36% 15-year bonds with a redemption right at the end of the 10th year.
The notes were sold through bookbuilding in China’s interbank bond market on Nov. 11.
Proceeds will be used to supplement the bank’s tier 2 capital and promote steady development of the business.
Bank of Communications is based in Shanghai.
| Issuer: | Bank of Communications Co., Ltd.
|
| Amount: | RMB 50 billion
|
| Issue: | Tier 2 capital bonds
|
| Trade date: | Nov. 11
|
| Settlement date: | Nov. 15
|
| Distribution: | China
|
|
|
| 10-year bonds
|
| Amount: | RMB 37 billion
|
| Tenor: | 10 years
|
| Coupon: | 3.03%
|
| Call feature: | Redemption right at end of fifth year
|
|
|
| 15-year bonds
|
| Amount: | RMB 13 billion
|
| Tenor: | 15 years
|
| Coupon: | 3.36%
|
| Call feature: | Redemption right at end of 10th year
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
