Agricultural Bank of China (HK:1288) has released an update.
Agricultural Bank of China Limited has successfully completed the issuance of 50 billion RMB worth of total loss-absorbing capacity eligible non-capital bonds, divided into three tranches with varying maturities and interest rates. These bonds, issued on August 30, 2024, aim to bolster the bank’s ability to absorb losses, aligning with regulatory requirements. The funds raised will be utilized to enhance the bank’s financial stability, after covering the offering expenses.
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