Summary by Futu AI
China Construction Bank Corporation Limited (“Construction Bank”) announced that its 2024 Tier II Capital Notes (First Issue) were completed on February 5, 2024, totaling RMB 500 billion. The issue consists of two bonds with a 10-year maturity, $200 billion in size, a bill rate of 2.75%, a 2-year term, a size of $300 billion, a bill rate of 2.82%, with a conditional issuer redemption right. The initiative is intended to supplement the Tier II capital of the Construction Bank and has been approved by the relevant regulatory authorities. This bond issue is in accordance with the resolution adopted by the General Meeting on 29 June 2023 and is in accordance with the requirements of the applicable legal and regulatory authorities.