By Marisa Wong
Morgantown, W.Va., March 23 – Guangzhou Rural Commercial Bank Co. Ltd. said it issued RMB 10 billion of tier 2 capital bonds on Friday.
The 10-year bonds were priced at par to yield 4.9%.
The bonds are conditionally callable at the end of the fifth year.
Proceeds will be used to replenish the Guangzhou, China-based bank’s capital.
| Issuer: | Guangzhou Rural Commercial Bank Co. Ltd.
|
| Issue: | Tier 2 capital bonds
|
| Amount: | RMB 10 billion
|
| Maturity: | 10 years
|
| Coupon: | 4.9%
|
| Price: | Par
|
| Yield: | 4.9%
|
| Call option: | Conditionally at par in whole or in part at end of fifth year
|
| Settlement date: | March 23
|
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