Bank of Hangzhou completes 10bn yuan bond issuance

Bank of Hangzhou (SSE:600926) announced the successful completion of its issuance of the "Bank of Hangzhou Co., Ltd. 2025 Perpetual Term Capital Bonds (First Phase)" on March 28, 2025. The issuance, approved by regulatory authorities, was completed in the interbank bond market. The total issuance volume reached 10 billion yuan. The bonds carry a coupon rate of 2.24% for the initial five years, which will be reset every five years thereafter. The bank retains the right to redeem the bonds in whole or in part on each interest payment date from the fifth year onwards. Proceeds from the bond issuance will be used to bolster the bank's Tier 1 capital, subject to applicable laws and regulatory approvals.