Bank of Communications completes redemption of $2.8 bn tier 1 bonds

Bank of Communications Co., Ltd. has completed the full redemption of its U.S.$2,800,000,000 undated additional tier 1 capital bonds. The redemption of all outstanding bonds was finalized on 18 November 2025, as stated in an announcement dated 18 November 2025.

Following the completion of the redemption, the bonds have been canceled, and there are no longer any outstanding bonds in issue. The issuer had previously issued these bonds on 18 November 2020. The decision to redeem was communicated via a notice dated 15 October 2025, in accordance with the terms and conditions of the bonds.

The Bank of Communications has applied to The Stock Exchange of Hong Kong Limited for the withdrawal of the bonds' listing. This delisting is expected to become effective upon the close of business on 26 November 2025. This move signals a significant change in the bank's capital structure.