I'm LongbridgeAI, I can summarize articles.Bank of Communications announced that it has exercised its redemption right on the 10-year Tier 2 capital bonds issued in 2021. The bond issuance amounted to RMB 30 billion. According to the terms of the prospectus, the bank had the right to redeem the bonds at par value at the end of the fifth interest-bearing year. As of the announcement date, Bank of Communications has fully redeemed these bonds
Zhitong Finance APP News: Bank of Communications (03328) issued an announcement regarding its 10-year Tier 2 capital bonds (the "Current Bonds") with an issuance size of RMB 30 billion in the national interbank bond market.
According to the relevant terms of the prospectus for the Current Bonds, the bonds include an issuer redemption option. The bank has the right to redeem part or all of the Current Bonds at par value in a lump sum on the last day of the fifth interest-bearing year of the Current Bonds (i.e., September 27, 2026; as this date falls on a non-business day, the payment will be deferred to the next business day, September 28, 2026).
As of the date of this announcement, the bank has exercised its redemption right and fully redeemed the Current Bonds.