Bank of Communications Boosts Stability with New Bonds

Bank of Communications Co (HK:3328) has released an update.

Bank of Communications Co. has successfully completed the issuance of its first 2024 tranche of Total Loss-Absorbing Capacity non-capital bonds, raising RMB30 billion. These fixed-rate bonds, with a four-year term and a 2.11% coupon rate, are part of the bank’s strategy to strengthen its financial resilience. This move highlights the bank’s commitment to bolstering its financial stability amidst evolving market conditions.

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