Industrial and Commercial Bank of China (HK:1398) has released an update.
The Industrial and Commercial Bank of China has successfully completed the issuance of its 2024 Tier 2 Capital Notes, raising RMB50 billion to reinforce its tier 2 capital. This financial move encompasses two tranches of fixed-rate notes, with terms of 10 and 15 years, and interest rates of 2.25% and 2.40%, respectively. The capital raised will be used in accordance with applicable laws and regulatory approvals to strengthen the bank’s capital structure.
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