Bank of China (03988): The issuance of the debt instruments with fixed-term capital reduction has been completed.

Bank of China (03988) announced that the proposal to issue no more than 450 billion RMB or its equivalent in foreign currency capital instruments was approved at its shareholders' meeting held on July 18, 2025. With the approval of the relevant regulatory authorities, the bank will issue write-down type perpetual bonds in the national interbank bond market on August 20, 2026, and the issuance will be completed on August 24, 2026. The issuance size of this bond is 20 billion RMB, with a coupon rate of 1.86% for the first five years, and it will be adjusted every five years, with the issuer having the right of redemption on each interest payment date from the fifth year onward. The funds raised from this bond issuance will, in accordance with applicable laws and regulatory approvals, replenish the banks other tier 1 capital.