By Marisa Wong
Morgantown, W.Va., April 13 – Bank of Communications Co., Ltd. said it issued RMB 30 billion of 10-year tier 2 capital bonds with a fixed coupon of 4˝%.
The bonds are conditionally callable at the end of the fifth year.
Proceeds will be used to replenish the bank’s tier 2 capital, optimize its capital structure and promote steady business development.
Bank of Communications is based in Shanghai.
| Issuer: | Bank of Communications Co., Ltd.
|
| Issue: | Tier 2 capital bonds
|
| Amount: | RMB 30 billion
|
| Maturity: | 10 years
|
| Coupon: | 4˝%
|
| Call option: | At the end of the fifth year, subject to some conditions
|
| Settlement date: | April 13
|
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