New Issue: Bank of Chongqing prices RMB 13 billion variable rate convertible bonds due 2028

By Abigail W. Adams

Portland, Me., March 21 – Bank of Chongqing Co. Ltd. priced RMB 13 billion six-year variable rate convertible bonds on Monday at par with conversion price of RMB 11.28 and a redemption price of 110, according to a company news release.

The convertible bonds will carry a coupon of 0.2% in year one, 0.4% in year two, 1% in year three, 1.7% in year four, 2.5% in year five and 3.5% in year six.

The Bank of Chongqing is a Chongqing, China-based corporate and retail bank.

Issuer:	Bank of Chongqing Co. Ltd.
Amount:	RMB 13 billion
Issue:	Convertible bonds
Maturity:	March 22, 2028
Coupon:	0.2% year one, 0.4% year two, 1% year three, 1.7% year four, 2.5% year five and 3.5% year six
Price:	Par
Redemption price:	110
Conversion price:	RMB 11.28
Pricing date:	March 21
Settlement date:	March 23
Distribution:	Regulation S
Stock symbol:	HK: 1963
Stock price:	RMB 4.63
Market capitalization:	RMB 14.478 billion

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