June 9, 2020 / 11:11 AM / a month ago

BRIEF-Bank Of Communications Says No Objections By CBIRC On Redemption Of US$2.45 Bln Offshore Preference Shares

June 9 (Reuters) - 3328.HK:

* ON 27 MARCH, BANK CONSIDERED & PASSED PROPOSAL ON EXERCISING REDEMPTION RIGHT ON OFFSHORE PREFERENCE SHARES BY IT

* ON 27 MARCH, BANK APPROVED REDEMPTION OF ALL OF U.S.$2.45 BILLION OFFSHORE PREFERENCE SHARES

* BANK RECENTLY RECEIVED REPLY LETTER FROM CHINA BANKING AND INSURANCE REGULATORY COMMISSION

* NO OBJECTIONS WERE RAISED BY CBIRC FOR BANK TO REDEEM U.S.$2.45 BILLION OFFSHORE PREFERENCE SHARES

* BANK WILL PROCEED WITH OTHER APPLICATION PROCEDURES FOR REDEMPTION

* BANK PLANS TO IMPLEMENT REDEMPTION ON 29 JULY 2020 Source text for Eikon: Further company coverage:

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