Industrial and Commercial Bank of China (ICBC) announced that its perpetual capital bonds (the first phase) due in 2024 have been approved by relevant regulatory institutions and have been successfully issued in the national interbank bond market recently. The bond, with a size of RMB 50 billion, started book building on July 10, 2024 and was issued on July 12, 2024. The bond has a coupon rate of 2.35% for the first five years and an adjustment mechanism every five years. The issuer has the condition redemption right on every interest payment date after the fifth year. The funds raised will be used to supplement ICBC's other Tier 1 capital. The board of directors of ICBC made this announcement in Peking on July 12, 2024.

Industrial and Commercial Bank of China (ICBC) announced that its perpetual capital bonds (the first phase) due in 2024 have been approved by relevant regulatory institutions and have been successfully issued in the national interbank bond market recently. The bond, with a size of RMB 50 billion, started book building on July 10, 2024 and was issued on July 12, 2024. The bond has a coupon rate of 2.35% for the first five years and an adjustment mechanism every five years. The issuer has the condition redemption right on every interest payment date after the fifth year. The funds raised will be used to supplement ICBC's other Tier 1 capital. The board of directors of ICBC made this announcement in Peking on July 12, 2024.