ICBC redeems RMB 90 bn Tier 2 capital bonds

Industrial and Commercial Bank of China (ICBC) announced the full redemption of its RMB 90 billion Tier 2 capital bonds. These bonds, comprising 10-year fixed-rate tranches, were issued in two phases in September and November 2020.

According to the bond prospectus, ICBC had the option to redeem these bonds on the last day of their fifth interest-bearing year. The redemption dates were September 24, 2025, and November 16, 2025, respectively. The bank exercised its redemption right at face value for the entire outstanding amount.

The announcement, dated November 17, 2025, confirms that the bank has completed the redemption of these Tier 2 capital instruments.