Shanghai Pudong Development Bank completes bond issuance

Shanghai Pudong Development Bank (SSE:600000) announced the successful completion of its issuance of the "Shanghai Pudong Development Bank Co., Ltd. First Tranche of Perpetual Capital Bonds in 2025." The issuance, approved by the People's Bank of China and the National Administration of Financial Supervision, was completed on June 12, 2025, following the book-entry on June 10, 2025. The total issuance amounts to CNY30 billion, with a coupon rate of 2.03% for the first five years, adjusted every five years thereafter. The bank retains a conditional redemption right on each interest payment date after the fifth year. Proceeds from the bond issuance will be used to supplement the bank's Tier 1 capital, subject to regulatory approvals.