Bank of Ningbo issues first undated capital bonds

Bank of Ningbo Co., Ltd. announced the successful completion of its first tranche of undated capital bonds in 2025. This issuance, approved by the Ningbo Financial Regulatory Bureau and the People's Bank of China, reinforces the bank's capital structure. The bonds were issued in the national interbank bond market.

The total issuance size of these undated capital bonds is RMB 100 billion. The bonds carry a coupon rate of 2.30% for the first five years, with the rate subject to adjustment every five years thereafter. The issuer also holds a conditional redemption option on each interest payment date from the fifth year onwards.

The funds raised from this bond issuance will be used to supplement the Bank of Ningbo's other Tier 1 capital, in accordance with applicable laws and regulatory approvals. This initiative is expected to enhance the company's financial resilience and support its continued growth.