Agricultural Bank of China adjusts preference share coupon rate

Agricultural Bank of China (HKEX: 1288) has announced an adjustment to the coupon rate of its preference shares, second tranche, issued in March 2015. The adjustment, effective from March 11, 2025, sets the new coupon rate at 3.77% annually. This rate comprises a prevailing base rate of 1.53%, which is the arithmetic average yield of PRC Treasury bonds with a 5-year maturity, and a fixed premium of 2.24%, determined at issuance. The base rate is calculated using yield curve data from ChinaBond Government Bonds during the 20 trading days preceding March 6, 2025. The adjustment marks the start of the third coupon rate adjustment interval for these preference shares.