Bank of Communications completes RMB30 bn bond issuance

Bank of Communications Co., Ltd. announced the completion of its 2025 Third Tranche of Total Loss-Absorbing Capacity Non-Capital Bonds (Bond Connect) on November 14, 2025. The total issuance size reached RMB30 billion, aiming to enhance the bank's loss-absorbing capacity in accordance with applicable laws.

The bonds consist of two types: RMB26 billion in 4-year fixed rate bonds with a 1.93% coupon rate, and RMB4 billion in 4-year floating rate bonds with a 1.94% coupon rate for the initial distribution period and a fixed spread of 0.46%. Both types grant the issuer a conditional redemption right at the end of the third year.

The funds raised, after deducting issuance-related expenses, will be utilized to improve the bank's total loss-absorbing capacity, subject to the approval of competent authorities. The announcement was made in Shanghai, PRC, and signed by He Zhaobin, company secretary.