Bank of China Completes RMB50 Billion Tier 2 Capital Bond Issuance
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Bank of China Ltd. has successfully issued RMB50 billion in tier 2 capital bonds in the domestic interbank bond market. The issuance includes a fixed rate bond of RMB48 billion with a 10-year term and a 2.22% coupon rate, and a floating rate bond of RMB2 billion with a 10-year term and a 2.25% initial coupon rate. Both tranches have a redemption option at the end of the fifth year. The funds will be used to replenish the bank's tier 2 capital.
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