Bank of Communications to redeem $2.8 bn undated capital bonds

Bank of Communications has confirmed its intention to exercise its conditional redemption right for its $2.8 billion undated capital bonds on November 18, 2025. The bonds were initially issued on November 18, 2020, and the redemption will cover the principal amount plus any unpaid interest accrued up to, but not including, the redemption date.

The bank has received official approval from the National Financial Regulatory Administration, confirming that the conditions for redemption have been met. Upon redemption, the bonds will no longer have any outstanding balance, and the bank will apply to the Hong Kong Stock Exchange for their delisting.