Summary by Moomoo AI
China Agricultural Bank Co., Ltd. (hereinafter referred to as "Agricultural Bank") announced that its 2024 perpetual capital bonds (second series) were successfully issued on June 5, 2024. The scale of the bond issue reached RMB 60 billion, with an initial coupon rate of 2.46% and provisions for adjustment every five years. The issuance was approved by the shareholders' meeting on June 29, 2023, and relevant regulatory institutions. The funds raised will be used to replenish Agricultural Bank's other Tier 1 capital. The issuer has the conditional redemption right on each interest payment date after the fifth year of this bond. Agricultural Bank's executive directors include Mr. Gu Shu, Mr. Zhang Xuguang, and Mr. Lin Li, non-executive directors including Ms. Zhou Ji, and independent non-executive directors including Mr. Huang Zhenzhong.