Bank of China completes RMB50bn tier-two capital bond issuance

Bank of China Limited announced the completion of its RMB50 billion tier-two capital bond issuance on December 24, 2025. This follows shareholder approval on July 18, 2025, to issue up to RMB450 billion in capital instruments. The bonds, approved by regulators, were issued on the national interbank bond market on December 22, 2025.

The issuance included two tranches: RMB48 billion of 10-year fixed-rate bonds with a 2.22% coupon, and RMB2 billion of 10-year floating-rate bonds with an initial coupon of 2.25%. Both tranches feature an issuer redemption option after five years.

The proceeds will supplement the bank's tier-two capital, in accordance with applicable laws and regulatory approvals.