Bank of Communications Issues 40 Billion Yuan Perpetual Subordinated Bonds at 1.94% Coupon

According to Bank of Communications, the bank recently successfully issued 40 billion yuan perpetual subordinated bonds in the interbank market with a coupon rate of 1.94%. The bonds' maturity aligns with the bank's ongoing operations, with issuer redemption rights available starting from the fifth anniversary of issuance on each annual interest payment date thereafter. The offering attracted over 120 institutional investors, including banks, wealth management firms, funds, securities companies, insurers, and trusts.

The bank achieved 200 billion yuan in oversubscription above its initial 20 billion yuan base issuance size, bringing the final issuance scale to 40 billion yuan.