Summary by Moomoo AI
Bank of China Limited (hereinafter referred to as “Bank of China”) issued a total of RMB 600 billion Tier II Capital Notes on 30 January 2024 on the national interbank bond market and completed issuance on 1 February 2024. The issuance, approved by the General Meeting and the relevant regulatory bodies, is a resolution to issue no more than RMB 4,500 million or equivalent foreign currency capital instruments approved by the General Meeting on 30 June 2023. The current period bond is divided into two types, one of which is a 10-year fixed rate bond with a size of RMB 300 billion, with a bill rate of 2.78%, with an issuer redemption right at the end of the 5th year; type two is a 15-year fixed rate bond with the same issue size of RMB 300 billion, with a bill rate of 2.85%, for the 10th year The right of redemption by the final issuer. The funds raised will be used to supplement the Tier II capital of the Bank of China. The Board of Directors issued a notice in Beijing on 1 February 2024.