Agricultural Bank of China completes tier 2 capital notes issue

Agricultural Bank of China (HKEX:1288) announced the completion of its 2025 Tier 2 Capital Notes (Series 1) issuance, also known as Bond Connect, following approval by relevant regulatory authorities. The total issuance size of the notes is valued at RMB60.0 billion, divided into two tranches. The first tranche consists of RMB35.0 billion of 10-year fixed-rate notes with a 1.93% interest rate, including a conditional redemption right on the last day of the fifth anniversary year. The second tranche comprises RMB25.0 billion of 15-year fixed-rate notes with a 2.10% interest rate, which carries a conditional redemption right on the last day of the tenth anniversary year. The proceeds from this issuance will be used to strengthen the Bank's Tier 2 capital, in accordance with applicable regulations and approved purposes.