Bank of Communications Co (HK:3328) has released an update.
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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