Bank of Jiangsu completes issuance of perpetual bonds

Bank of Jiangsu (SSE:600919) announced the successful completion of its issuance of CNY20 billion in perpetual term capital bonds (first phase) via Bond Connect. Approved by the National Administration of Financial Regulation's Jiangsu Bureau and the People's Bank of China, the bonds were priced on April 10, 2025, and issued on April 14, 2025. The bonds carry a coupon rate of 2.08% for the first five years, subject to reset every five years thereafter. Bank of Jiangsu reserves the right to redeem the bonds, either in full or in part, on each interest payment date starting from the fifth year. The proceeds from this issuance will be used to bolster the bank's Tier 1 capital, improve its capital adequacy ratio, and support sustainable business growth, in accordance with applicable laws and regulatory approvals.