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Bank of Hangzhou Completes 15 Billion Yuan Bond Issuance

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Bank of Hangzhou (SHA:600926) has completed a 15 billion yuan bond issuance, according to a Friday disclosure with the Shanghai Stock Exchange.

The offering comprises two series: a 13 billion yuan tranche carrying a three-year term with a coupon rate of 1.57%, and a three-year second tranche valued at 2 billion yuan with an initial coupon rate of 1.61% linked to the one-year loan prime rate.

Proceeds will be used for its lending operations and other purposes.

The lender's shares rose 1% during the morning trade.

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