ICBC (01398): Will redeem US$6.16 billion of unfixed capital bonds

According to the Zhitong Finance App, ICBC (01398) issued an announcement that the bank issued US$6.160 billion of unfixed capital bonds abroad on September 24, 2021. According to the terms and conditions of this bond, the bank has the right to conditional redemption for every dividend day 5 years after the issuance of this bond. The bank has informed the holders of this bond that the bank will exercise the right of redemption to redeem all outstanding bonds on September 24, 2026 (first redemption date). The bank will redeem all of the current bonds according to the principal amount plus unpaid interest payable up to the first redemption date (but not including that date).

The bank has obtained a prior written decision issued by the State Financial Supervisory Authority in accordance with the requirements of the terms and conditions. The conditions for exercising the right of redemption have been met. This bond will no longer contain an unpaid balance after it is redeemed on the first redemption date. Accordingly, the bank will apply to the Stock Exchange of Hong Kong Limited to withdraw the bond listing.