BOCOM International (HKG:3329) has completed the pricing of two tranches of subordinated perpetual securities totaling 1.10 billion yuan and $134 million, according to a Wednesday filing with the Hong Kong Stock Exchange.
The securities carry initial distribution rates of 2.5% for the first three years, while the U.S. dollar tranche was priced at an initial rate of 5.5% over the same period.
Proceeds will be used to repay existing liabilities or fund additional asset deployment.