Bank of Communications Co (HK:3328) has released an update.
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Bank of Communications Co., Ltd. has successfully issued RMB40.0 billion in undated capital bonds, with the first tranche completed on August 28, 2024. These bonds, which have a starting coupon rate of 2.30% adjustable every five years, aim to bolster the bank’s tier-1 capital and sustain its business growth. The issuance was approved by shareholders and regulatory authorities, ensuring compliance and strategic financial reinforcement.
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