-- Agricultural Bank of China (HKG:1288, SHA:601288) completed the issue of 50 billion yuan of bonds divided into three tranches in the National Interbank Bond Market on Thursday, according to a same-day filing with the Hong Kong bourse.
The first two tranches comprise 20 billion yuan each of four-year and six-year bonds with an interest rate of 1.8% and 2%, respectively.
The bank has conditional redemption rights on the third and fifth respective anniversaries of the tranches.
The third tranche consists of 10 billion yuan of 2.27% bonds maturing in 11 years and offering the bank a conditional redemption right on the tenth anniversary.
The firm will use proceeds to improve its total loss-absorbing capacity.