The Bank of China (601988.SH) issued an announcement to review the bank's shareholders' meeting held on June 30, 2023...
According to the Zhitong Finance App, the Bank of China (601988.SH) issued an announcement. The bank's shareholders' meeting held on June 30, 2023 reviewed and approved a bill to issue no more than 450 billion yuan or foreign currency equivalent capital instruments. With the approval of relevant regulators, the bank issued write-down unfixed capital bonds totaling RMB 30 billion on the national interbank bond market on July 26, 2024, and the issuance was completed on July 30, 2024. The coupon interest rate for the first 5 years of the current bond is 2.19%, adjusted every 5 years, and the issuer's right of redemption is attached to every interest payment date after the 5th year. The funds raised by the current bond will supplement the bank's other Tier 1 capital in accordance with applicable laws and regulatory approval.
