The Bank of China announced that it plans to issue non-capital bonds with total loss absorption capacity in 2024 (first instalment), with a basic issuance scale of RMB 30 billion, of which the basic issuance scale for Type 1 is RMB 20 billion and the basic issuance scale for Type 2 is RMB 10 billion. Type 1 is a 4-year fixed interest rate product with conditional issuer redemption rights at the end of the 3rd year. Type 2 is a 6-year fixed interest rate variety with conditional issuer redemption rights at the end of the 5th year. The issuer has the right to redeem part or all of the current bonds at face value on the premise that regulatory requirements are met. Additional issuance rights are attached. If the actual full subscription ratio (full subscription volume/basic issuance scale) of any type of current bond is α or greater, the issuer has the right to choose to exercise the excess issuance rights for the corresponding type, that is, to increase the issuance scale of the corresponding type in addition to the basic issuance scale of the current bond. The total issuance scale for type 1 and type 2 does not exceed RMB 10 billion. If the actual subscription ratio of variety 1 or variety 2 is α <1.4, the corresponding product will be distributed according to the basic distribution scale.
国有大行逐步发行TALC债券，继工行后，中行拟发300亿元并附超额增发权
Major state-owned banks are gradually issuing TALC bonds. Following ICBC, the Bank of China plans to issue 30 billion yuan with excess additional rights
The translation is provided by third-party software.
The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.