China Merchants Bank (03968) completed the issuance of 30 billion yuan of perpetual capital bonds.

China Merchants Bank (03968) announced that, approved by the China Banking and Insurance Regulatory Commission, China Merchants Bank Co., Ltd. (the Company) recently issued the "2026 China Merchants Bank Co., Ltd. Non-fixed Term Capital Bonds (First Tranche) (Bond Connect)" (the Bonds) in the national interbank bond market. The Bonds were book-built on April 10, 2026, and issued on April 14, 2026. The total issuance size of the Bonds is RMB 30 billion, with a fixed interest rate of 2.05% for the first 5 years and adjustable every 5 years. The issuer has conditional redemption rights after the 5th year and on each subsequent interest payment date. The funds raised from the issuance of the Bonds will be used to supplement the Company's other Tier 1 capital, subject to applicable laws and regulatory approvals.