Bank of China issues 30 bln yuan of tier-2 capital bonds

Source: Xinhua | 2019-11-25

The Bank of China (BOC), one of China's four biggest lenders, has issued its second batch of tier-2 capital bonds totaling 30 billion yuan (about 4.27 billion U.S. dollars) to enrich its tier-2 capital.

With a maturity term of 10 years, the fixed-rate bonds were issued at a coupon rate of 4.01 percent and the issuers hold the right of redemption at the end of the fifth year.

The subscription ratio, the number of purchase requests to the number of bonds available, stood at 2.66, said the BOC.

The bank completed the issuance of the first batch of capital bonds in September this year, which were valued at 40 billion yuan.