China Construction Bank to redeem USD 2bn bonds

China Construction Bank Corporation (SSE:601939) announced today that it will exercise its redemption right to redeem all outstanding USD 2 billion Tier 2 Capital Bonds, originally issued on June 24, 2020, with an initial annual interest rate of 2.45% and maturing in 2030. The redemption date is set for June 24, 2025. Bondholders will receive the principal amount plus accrued and unpaid interest up to, but excluding, the redemption date. The National Administration of Financial Regulation has already approved the redemption. Following the redemption, the bonds will no longer have any outstanding balance, and the bank will apply for the withdrawal of the bonds' listing from the Stock Exchange of Hong Kong Limited.