Financial Wire

China CITIC Bank Sells 40 Billion Yuan Bonds

-- China CITIC Bank (HKG:0998, SHA:601998) completed the issue of 40 billion yuan of undated capital bonds in the interbank bond market on Friday, according to a same-day Hong Kong bourse filing.

The bonds carry a coupon rate of 2.06% for the first five years, following which it will be adjusted every five years.

The lender has a conditional redemption right on each interest payment date in the fifth year and the years to follow.

The bank will use proceeds to replenish its other tier-one capital.

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