Industrial and Commercial Bank of China (HK:1398) has released an update.
The Industrial and Commercial Bank of China Limited has successfully completed the issuance of its 2024 Undated Additional Tier 1 Capital Bonds, raising RMB50 billion to reinforce its additional tier 1 capital. The Bonds, with a 2.35% distribution rate for the first five years and an adjustable rate thereafter, were issued with regulatory approval and are part of the Bank’s capital management strategy. The funds raised will support the Bank’s capital base, ensuring compliance with regulatory requirements.
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