DRCB (09889) has completed the issuance of 1 billion yuan in perpetual capital bonds.
Dongguan Rural Commercial Bank (09889) announced that the Shareholders' Meeting of Dongguan Rural Commercial Bank Co., Ltd. held on May 30, 2024, reviewed and approved the proposal for issuing capital bonds. With the approval of the People's Bank of China and the Guangdong Regulatory Bureau of the National Financial Regulatory Administration, the bank successfully issued its 2026 perpetual capital bonds in the national interbank bond market recently.
DRCB (09889) announced that Dongguan Rural Commercial Bank Co., Ltd. held its 2023 Annual General Meeting on May 30, 2024, where it reviewed and approved the proposal for issuing capital bonds. With the approval from the People's Bank of China and the Guangdong Regulatory Bureau of the National Financial Supervisory Administration, the bank successfully issued its 2026 perpetual capital bonds in the national interbank bond market recently.
The bonds were recorded on August 7, 2026, and were fully issued by August 11, 2026. The total scale of this bond issuance is RMB 1 billion, and it is a perpetual capital bond with a conditional issuer redemption right at the end of the fifth year, with a nominal interest rate of 1.97%.
The funds raised from this bond issuance will, subject to applicable laws and regulatory approval, be used to replenish the bank's other tier one capital.
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