China Construction Bank (HKG:0939, SHA:601939) completed the issue of 40 billion yuan of undated additional tier 1 capital bonds on Monday, a Tuesday Hong Kong bourse filing by the Chinese port operator said.
The bonds carry a 1.99% coupon rate during the first five years, after which it will be reset every five years. The lender will have a conditional redemption right on every interest payment date from the fifth year onward.
The firm will use proceeds from the issue to replenish its additional tier 1 capital.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.