Guangzhou Rural Commercial Bank Co. Ltd. Class H (HK:1551) has released an update.
Guangzhou Rural Commercial Bank Co., Ltd. has successfully issued and listed undated capital bonds worth RMB12 billion as of May 29, 2024. The bonds carry an initial coupon rate of 2.78% for the first five years, subject to adjustment thereafter, and include an issuer’s conditional redemption right from the fifth year on each interest payment date. The funds raised will be used to boost the bank’s capital in accordance with legal and regulatory approvals.
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