China CITIC Bank Fully Redeems RMB40 Billion Undated Capital Bonds

China CITIC Bank ( (HK:0998) ) has issued an announcement.

China CITIC Bank Corporation Limited announced that it has exercised its conditional redemption right on a tranche of undated capital bonds issued between 22 April 2021 and 26 April 2021, with a total size of RMB40 billion. With approval from the National Financial Regulatory Administration, the bank fully redeemed these bonds on the fifth-year coupon payment date of 26 April 2026, which may affect its capital structure, funding costs and regulatory capital planning, but underscores active management of its hybrid capital instruments.

The redemption of the RMB40 billion undated capital bonds removes this layer of additional tier-type capital from the bank’s balance sheet, potentially signaling confidence in its current capital position and alternative funding capacity. For investors and regulators, the move reflects the bank’s adherence to the original terms of the issuance and may influence expectations for future redemptions or refinancings of similar capital instruments in China’s banking sector.

The most recent analyst rating on (HK:0998) stock is a Buy with a HK$8.30 price target. To see the full list of analyst forecasts on China CITIC Bank stock, see the HK:0998 Stock Forecast page.

More about China CITIC Bank

China CITIC Bank Corporation Limited is a joint stock commercial bank incorporated in the People’s Republic of China and listed in Hong Kong under stock code 998. The bank operates in the financial services industry, offering a broad range of banking products and services to corporate and retail clients in China and international markets, and is regulated by national financial authorities.

YTD Price Performance: 20.17%

Average Trading Volume: 25,955,253

Technical Sentiment Signal: Buy

Current Market Cap: HK$514.3B

See more data about 0998 stock on TipRanks’ Stock Analysis page.