Bank of Ningbo completes 8.9bn yuan bond issuance

Bank of Ningbo (SZSE:002142) announced the successful completion of its first phase of tier-2 capital bond issuance for 2025. Approved by the National Administration of Financial Regulation's Ningbo bureau and the People's Bank of China, the bond issuance totaled 8.9 billion yuan. These bonds, with a 10-year fixed-rate term and an embedded issuer redemption option at the end of the fifth year, carry a coupon rate of 2.18%. The proceeds are earmarked for bolstering the bank's tier-2 capital, aligning with regulatory requirements and applicable laws.