Agricultural Bank of China raises 60bn yuan capital

Agricultural Bank of China completed a 60 billion yuan Tier 2 capital bond issuance comprising two tranches.

The bank issued 40 billion yuan in 10-year bonds at 1.92% coupon rate, callable after five years, and 20 billion yuan in 15-year bonds at 2.12% coupon rate, callable after 10 years.

The proceeds will supplement the bank's Tier 2 capital in accordance with regulatory requirements.