By Rebecca Melvin
New York, Nov. 20 – Luzhou Bank Co., Ltd. issued RMB 700 million of 4.8% 10-year tier 2 capital bonds, which is the second of two tranches being issued in 2020, according to a notice of listing on the Stock Exchange of Hong Kong Ltd. on Friday.
The issuer will have conditional redemption rights after five years.
Proceeds will be used to replenish the bank’s additional tier 2 capital.
The banking services provider is based in Luzhou, China.
| Issuer: | Luzhou Bank Co., Ltd.
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| Issue: | Capital bonds
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| Amount: | RMB 700 million
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| Maturity: | 10 years
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| Coupon: | 4.8%
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| Call option: | Callable after five years
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