Bank of China to redeem write-down perpetual capital bonds

Bank of China announced today that it will redeem its write-down perpetual capital bonds, initially issued on April 28, 2020. The bonds, with a total value of CNY40 billion, are set to be redeemed on April 30, 2025, the fifth anniversary of their issuance. According to the terms outlined in the bond prospectus, Bank of China, with the approval of the National Financial Regulatory Administration, has exercised its right to redeem the bonds in full.