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.
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