Postal Savings Bank Of China (01658) has completed the redemption of the 2021 Tier 2 Capital Bonds (Phase I) (Variety One).

Postal Savings Bank of China (01658) announced that in August 2021, China Postal Savings Bank Co., Ltd. (hereinafter referred to as the Bank) issued tier 2 capital bonds with a total scale of RMB 60 billion in the national interbank bond market, and on August 23, 2021, released the announcement titled Announcement on the Completion of the Issuance of Tier 2 Capital Bonds (Phase 1) by China Postal Savings Bank Co., Ltd. The bonds include two varieties, among which the first variety is a 10-year fixed-rate bond that includes a conditional issuer call option at the end of the 5th year, with an issuance scale of RMB 50 billion (hereinafter referred to as the current bonds). According to the relevant terms outlined in the offering circular for the current bonds, the current bonds are subject to an issuer call option, allowing the Bank the right to redeem the current bonds at the end of the 5th year (i.e., August 23, 2026). Recently, the Bank has received a letter from the National Financial Regulatory Administration confirming that there are no objections to the redemption of the current bonds.