By Marisa Wong
Morgantown, W.Va., Oct. 22 – China Citic Bank Corp. Ltd. announced it issued RMB 20 billion of 10-year tier 2 capital bonds with a fixed coupon of 4.8% on Monday.
The bonds are conditionally callable after five years.
Proceeds will be used to replenish tier 2 capital.
This is the Beijing-based bank’s second tranche of tier 2 capital bonds for 2018. The bank sold a RMB 30 billion tranche in September.
| Issuer: | China Citic Bank Corp. Ltd.
|
| Issue: | Tier 2 capital bonds, 2018 second tranche
|
| Amount: | RMB 20 billion
|
| Maturity: | 10 years
|
| Coupon: | 4.8%
|
| Call option: | Conditionally after five years
|
| Settlement date: | Oct. 22
|
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