Bank of China(03988.HK): Completes RMB50 Billion Tier 2 Capital Bond Issuance with a Coupon Rate of 1.93%
NewTimeSpace News: Bank of China Limited (03988.HK) announced on June 16 that it has completed the issuance of RMB50 billion Tier 2 capital bonds carrying a coupon rate of 1.93%. The bonds have a 10-year tenor with a call right exercisable by the issuer at the end of Year 5, and the proceeds will be used to supplement the Bank’s Tier 2 capital.
NewTimeSpace News: On 16 June 2026, Bank of China Limited (03988.HK) issued an announcement stating that the Bank launched the issuance of write-down Tier 2 capital bonds with an aggregate principal amount of RMB50 billion on the National Interbank Bond Market on 12 June 2026, and fully completed the issuance on 16 June 2026.
This tranche of bonds are 10-year fixed-rate bonds with a coupon rate of 1.93%, granting the issuer a call option at the end of the fifth year.
The resolution approving the issuance of capital instruments in an aggregate amount not exceeding RMB450 billion or equivalent foreign currency was reviewed and passed at the general meeting of shareholders held by the Bank on 18 July 2025. Proceeds raised from this bond issuance will be used to supplement the Bank’s Tier 2 capital in compliance with applicable laws and regulatory approvals.
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