By William Gullotti
Buffalo, N.Y., Nov. 16 – Harbin Bank Co., Ltd. issued a RMB 3 billion tranche of 5% undated additional tier 1 capital bonds, according to a company announcement on Tuesday.
The coupon is subject to adjustment every five years.
The bonds, which do not have a fixed term, are conditionally callable on the annual interest payment date of the fifth year and subsequent years.
The bonds were issued in China’s national interbank bond market.
Proceeds will be used to supplement the bank’s other tier 1 capital.
The bank is based in Harbin, China.
| Issuer: | Harbin Bank Co., Ltd.
|
| Issue: | Undated additional tier 1 capital bonds, second tranche
|
| Amount: | RMB 3 billion
|
| Maturity: | Perpetual
|
| Coupon: | 5% initially, adjustable every five years
|
| Call option: | Conditionally callable on the annual interest payment date of the fifth year and subsequent years
|
| Pricing date: | Nov. 12
|
| Settlement date: | Nov. 16
|
© 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.
