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Shengjing Bank Strengthens Capital with Bond Issuance

Shengjing Bank Strengthens Capital with Bond Issuance

Shengjing Bank Co. Ltd. Class H (HK:2066) has released an update.

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Shengjing Bank Co., Ltd. has successfully issued RMB 6.0 billion worth of ‘Tier 2 Capital Bonds’ to bolster its tier two capital and improve its capital structure, with the aim of fostering the bank’s stable growth. The ten-year fixed-rate bonds, with a 2.85% annual coupon rate, come with a conditional redemption option at the end of the fifth year. This strategic financial move is set to enhance the bank’s capital adequacy and support its business development.

For further insights into HK:2066 stock, check out TipRanks’ Stock Analysis page.

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