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Agricultural Bank of China Ltd Completes Issuance Of Subordinated Bonds


Thursday, 20 Dec 2012 04:31am EST 

Agricultural Bank of China Ltd announced that with reference to the previous announcement regarding the approval of issuance of subordinated bonds. With approvals from the China Banking Regulatory Commission and the People‚Äôs Bank of China, the Bank has completed an issuance of RMB50 billion subordinated bonds in the national inter-bank bond market on December 20, 2012. The Issuance comprises an aggregate amount of RMB50 billion subordinated bonds with 15-year fixed interest rate and 4.99% coupon rate per annum. The Bank has a conditional right to redeem the bonds at the end of the tenth year from the Issuance. The proceeds from the Issuance will be used to replenish the supplementary capital of the Bank according to applicable laws and regulatory approvals.