Postal Savings Bank of China completes bond redemption

Postal Savings Bank of China (SSE:601658) announced today the successful redemption of its 80 billion RMB (approximately $11 billion USD) perpetual capital bonds. These bonds, classified as write-down perpetual capital bonds, were initially issued in March 2020 and could be redeemed by the bank on the interest payment date of the fifth interest-bearing year. According to the terms outlined in the bond prospectus, Postal Savings Bank of China exercised its right to redeem the bonds on March 19, 2025, following receipt of approval from the National Administration of Financial Supervision. The full redemption has now been completed.