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China Construction Bank Issues 30 Billion Yuan in Additional Tier 1 Capital Bonds

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China Construction Bank (HKG:0939, SHA:601939) issued an undated additional tier 1 capital bond worth 30 billion yuan, according to a Hong Kong filing on Monday.

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

The bond has a coupon rate of 1.92% during the first five years, and it will be reset every five years. The issuer has the option to redeem the bond on every interest payment date from the fifth year onwards.

Proceeds from the issuance will be used to replenish the bank's additional tier 1 capital.

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