Industrial and Commercial Bank of China: The second phase of the perpetual capital bond issuance in 2025 has been completed.

Industrial and Commercial Bank of China announced that, with regulatory approval, its perpetual capital bonds with no fixed term for 2025 have recently been issued in the national interbank bond market. The bond was book-built on November 6th and completed issuance on November 10th, with a scale of 40 billion yuan, a fixed coupon rate of 2.21% for the first five years, adjustable every five years, and the issuer has a conditional call option from the fifth year and onwards. The funds raised will be used to supplement other Tier 1 capital.