Bank of Communications Grabs Approval for $9.22 Billion Tier-2 Capital Bond Issue

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One of China’s big state-owned banks had cinched approval for a new issue of bonds to shore up its capital levels.

On 27 July Bank of Communications (BOCOM) announced that it had obtained approval from the Chinese banking authorities to issue up to 60 billion yuan (approx. USD$9.22 billion) in tier-2 capital bonds on China’s national interbank bond market.

BOCOM also said that its first provisional shareholders meetings in 2021 had previously approved the issuance of up to 140 billion yuan in tier-2 capital bonds.

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