Industrial and Commercial Bank of China (ICBC) (01398) has fully redeemed 90 billion yuan in Tier 2 capital bonds.

Industrial and Commercial Bank of China (01398) announced that in September and November 2020, the bank issued a total of RMB 90 billion of 10-year fixed-rate tier 2 capital bonds in two tranches in the national interbank bond market. The bank has the right to redeem the above-mentioned bonds in full on the last day of the 5th interest payment year of the bonds (i.e. September 24, 2025 and November 16, 2025). As of the date of this announcement, the bank has exercised its redemption rights and redeemed the above-mentioned bonds in full.