Bank of China (HK:3988) has released an update.
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Bank of China Limited has successfully completed the issuance of RMB30 billion in write-down undated capital bonds to boost its additional tier-1 capital, according to regulatory approvals. These bonds, with an initial coupon rate of 2.19% for the first five years, offer the Bank the right to redeem on every distribution payment date from the fifth year onwards. The capital raised is aimed at strengthening the Bank’s capital structure in compliance with applicable laws.
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