By William Gullotti
Buffalo, N.Y., Aug. 15 – China’s Zhongyuan Bank Co., Ltd. issued RMB 10 billion of 4.6% undated capital bonds in China’s domestic interbank bond market on Tuesday, according to an announcement.
The initial coupon will reset after five years and on five-year intervals thereafter.
The bonds will be callable on any interest payment date after the first interest reset.
Proceeds will be used to replenish the bank’s additional tier 1 capital.
The commercial bank is based in Zhengzhou, China.
| Issuer: | Zhongyuan Bank Co., Ltd.
|
| Amount: | RMB 10 billion
|
| Issue: | Undated capital bonds
|
| Tenor: | Perpetual
|
| Coupon: | 4.6%, resets every five years
|
| Call option: | On any dividend payment date after five years
|
| Settlement date: | Aug. 15
|
| Distribution: | China
|
|
|
© 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.
