Bank of China completes RMB 40 bn perpetual bond issuance

Bank of China Limited announced the successful completion of its write-down perpetual bond issuance on August 26, 2025. The bank issued RMB 40 billion in perpetual bonds on August 22, 2025. This issuance falls under a larger approval allowing the bank to issue up to RMB 450 billion or equivalent in foreign currency capital instruments.

The perpetual bonds carry an initial coupon rate of 2.16% for the first five years, with the rate subject to adjustment every five years thereafter. The issuer retains a redemption option on each interest payment date from the fifth year onwards.

The funds raised from this bond issuance will be utilized to supplement Bank of China's other Tier 1 capital, in accordance with applicable laws and regulatory approvals.