By William Gullotti
Buffalo, N.Y., Dec. 29 – Dongguan Rural Commercial Bank Co., Ltd. completed the issuance of RMB 4 billion 4.3% tier 2 10-year capital bonds, according to an announcement on Thursday.
The fixed-rate bonds may be redeemed early at the issuer’s option, under certain conditions, at the end of the fifth year.
The bonds were book-built Dec. 27 and issued in China’s national inter-bank bond market Dec. 29.
Proceeds raised will be used to replenish the bank’s tier 2 capital.
The bank is based in Dongguan City, China.
| Issuer: | Dongguan Rural Commercial Bank Co., Ltd.
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| Amount: | RMB 4 billion
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| Issue: | Tier 2 capital bonds
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| Tenor: | 10 years
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| Coupon: | 4.3%
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| Call option: | Conditional after five years
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| Trade date: | Dec. 27
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| Settlement date: | Dec. 29
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