By Marisa Wong
Morgantown, W.Va., June 27 – Bank of Qingdao Co., Ltd. said it issued RMB 3 billion of 10-year tier 2 bonds on Tuesday.
The fixed-rate bonds were priced at par. They are callable at the end of the fifth year.
Earlier this month, the bank said it obtained regulatory approval to issue up to RMB 5 billion of tier 2 capital bonds.
The Qingdao, China-based bank had initially proposed to issue up to RMB 6.5 billion of tier 2 capital bonds and up to RMB 8 billion of offshore preference shares, according to a company announcement in January.
Proceeds from the bonds will be used to replenish tier 2 capital.
| Issuer: | Bank of Qingdao Co., Ltd.
|
| Issue: | Tier 2 capital bonds, first tranche
|
| Amount: | RMB 3 billion
|
| Maturity: | June 28, 2027
|
| Coupon: | Fixed
|
| Price: | Par
|
| Call option: | At end of fifth year
|
| Settlement date: | June 27
|
|
|
|
|
© 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.
