Chicago, Oct. 31 – Agricultural Bank of China Ltd. issued RMB 60 billion of tier 2 capital notes, according to an announcement.
The two-tranche offering constitutes a third series.
Offered publicly, the notes were issued on Oct. 31.
The RMB 30 billion equal-sized tranches are for 3.45% 10-year notes and 3.55% 15-year notes.
The 10-year notes may be redeemed at the end of the fifth year and the 15-year notes may be similarly redeemed at the end of the 10th year.
Proceeds will be used to boost the tier 2 capital of the bank.
Based in Beijing, the commercial bank has branches in mainland China, Hong Kong and Singapore.
| Issuer: | Agricultural Bank of China Ltd.
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| Amount: | RMB 60 billion
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| Issue: | Tier 2 capital notes
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| Settlement date: | Oct. 31
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| Distribution: | Public
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|
|
| 10-year notes
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| Amount: | RMB 30 billion
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| Tenor: | 10 years
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| Coupon: | 3.45%
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| Call features: | On the last day of fifth year
|
|
|
| 15-year notes
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| Amount: | RMB 30 billion
|
| Tenor: | 15 years
|
| Coupon: | 3.55%
|
| Call features: | On the last day of 10th year
|
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