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Harbin Bank plans to issue Tier 2 securities, preference shares

Harbin Bank Co. Ltd. plans to issue offshore preference shares and Tier 2 securities.

The bank will issue up to 80 million preference shares with an aggregate amount not exceeding 8 billion yuan. The bank will issue the preference shares by way of private placement.

Meanwhile, Harbin Bank will also issue up to 20 billion yuan of Tier 2 capital instruments. The fixed-rate bonds have a term of 10 years. The proceeds from the issue will be used to replenish the Tier 2 capital of the bank.