Asia
China Merchants Bank Sells 30 Billion Yuan Undated Bonds
China Merchants Bank (SHA:600036, HKG:3968) completed the issue of 30 billion yuan of undated bonds in the national inter-bank bond market on Tuesday, according to a Wednesday Hong Kong bourse filing.The bonds carry a coupon rate of 2.05% for the first 5 years, following which it will be adjusted every five years.The lender will have conditional redemption rights on every interest payment date since the fifth year.The bank will use proceeds to replenish its additional tier 1 capital.
HKG:3968SHA:600036