Postal Savings Bank of China (01658) has completed the redemption of 30 billion yuan of non-fixed-term capital bonds.

Postal Savings Bank of China (01658) announced that in March 2021, Postal Savings Bank of China Co., Ltd. (hereinafter referred to as the Bank) issued a total of RMB 30 billion of perpetual capital bonds with a write-down feature in the national interbank bond market (the first tranche) (hereinafter referred to as the Bonds) and issued a notice on the completion of the issuance of the first tranche of perpetual capital bonds in 2021 on March 23, 2021. According to the relevant provisions of the offering circular of the Bonds, the Bonds have a conditional redemption clause, and the Bank has the right to redeem all or part of the Bonds on the interest payment date of the 5th interest calculation year of the Bonds (i.e. March 23, 2026). The Bank has recently obtained a no objection letter from the China Banking and Insurance Regulatory Commission regarding the redemption of the Bonds.