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Bank of China Ltd Announces Completion Of Subordinated Bonds Issue


Thursday, 29 Nov 2012 08:01am EST 

Bank of China Ltd referred to the announcement by Bank of China Ltd dated November 15, 2012. Having obtained the approvals from China Banking Regulatory Commission and the People‚Äôs Bank of China, the Bank issued RMB23 billion subordinated bonds (the Subordinated Bonds) in the national interbank bond markets on November 27, 2012. The total amount of the Subordinated Bonds is RMB23 billion and two different types are issued. One type is fixed rate subordinated bonds for a term of ten years with the coupon rate of 4.7% and the other type is fixed rate subordinated bonds for a term of fifteen years with the coupon rate of 4.99%. The Bank is entitled to redeem the above two types of subordinated bonds at the ends of the fifth year and the tenth year, respectively. The funds raised from the issuance of the Subordinated Bonds will be used to replenish the supplementary capital of the Bank in accordance with the applicable laws and the approvals from the regulatory authorities. 

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